Oak Harbor Wealth Partners LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,863 shares of the information services provider’s stock after acquiring an additional 2,592 shares during the period. Alphabet accounts for 1.1% of Oak Harbor Wealth Partners LLC’s holdings, making the stock its 24th largest position. Oak Harbor Wealth Partners LLC’s holdings in Alphabet were worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of the stock. DC Investments Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. raised its position in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new stake in shares of Alphabet in the first quarter valued at approximately $279,000. Finally, Wayfinding Financial LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $294,000. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GOOG has been the subject of several research analyst reports. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer lowered their price objective on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.77.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. During the same period last year, the business posted $1.23 EPS. The business’s revenue was up 2.6% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 832,682 shares of company stock worth $26,077,123. Company insiders own 12.99% of the company’s stock.
Alphabet Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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