Oak Harvest Investment Services Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Oct 1st, 2023

Oak Harvest Investment Services cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 73.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,844 shares of the information services provider’s stock after selling 40,407 shares during the quarter. Oak Harvest Investment Services’ holdings in Alphabet were worth $1,777,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the 1st quarter valued at $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $206,000. Eudaimonia Advisors LLC grew its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter valued at $281,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $130.85, for a total transaction of $31,404.00. Following the transaction, the director now owns 13,917 shares in the company, valued at approximately $1,821,039.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $130.85, for a total transaction of $31,404.00. Following the transaction, the director now owns 13,917 shares in the company, valued at approximately $1,821,039.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 35,799 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $130.54, for a total value of $4,673,201.46. Following the transaction, the insider now owns 17,484 shares in the company, valued at approximately $2,282,361.36. The disclosure for this sale can be found here. Insiders have sold 131,731 shares of company stock worth $16,880,398 in the last quarter. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOGL. Barclays upped their target price on Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Citigroup upped their price target on Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Susquehanna reaffirmed a “positive” rating and issued a $150.00 price target on shares of Alphabet in a research note on Thursday, August 31st. Finally, Robert W. Baird upped their price target on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.89.

Get Our Latest Stock Analysis on GOOGL

Alphabet Trading Down 1.1 %

GOOGL opened at $130.86 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $139.16. The company has a market cap of $1.65 trillion, a P/E ratio of 27.72, a PEG ratio of 1.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The business’s 50-day simple moving average is $131.84 and its 200-day simple moving average is $120.46.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the prior year, the business posted $1.21 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Alphabet Profile

(Free Report)

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.

Oak Harvest Investment Services Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Insider Buying and Selling

Analysts Set New Price Targets

Alphabet Trading Down 1.1 %

Alphabet Profile

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