Oak Grove Capital LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 3,300 shares of the information services provider’s stock, valued at approximately $3,453,000. Alphabet accounts for approximately 3.6% of Oak Grove Capital LLC’s portfolio, making the stock its 9th largest holding.
Several other institutional investors also recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. lifted its holdings in Alphabet by 108.3% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after purchasing an additional 52 shares during the last quarter. Price Wealth Management Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth about $125,000. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $132,000. WealthTrust Arizona LLC lifted its holdings in shares of Alphabet by 134.9% in the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after buying an additional 85 shares in the last quarter. Finally, Front Row Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $155,000. Institutional investors own 34.78% of the company’s stock.
GOOG has been the topic of a number of recent analyst reports. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price target on the stock in a report on Monday, March 19th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Pivotal Research reduced their price target on shares of Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating on the stock in a research report on Monday, April 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, April 20th. Finally, BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 21st. Five analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,130.86.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, topping the Zacks’ consensus estimate of $9.28 by $0.65. The company had revenue of $31.15 billion for the quarter, compared to analysts’ expectations of $30.28 billion. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.73 EPS.
Alphabet declared that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other news, VP Amie Thuener O’toole sold 78 shares of the business’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $1,028.10, for a total transaction of $80,191.80. Following the transaction, the vice president now owns 388 shares of the company’s stock, valued at approximately $398,902.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 37 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total value of $40,991.19. The disclosure for this sale can be found here. Insiders have sold a total of 57,211 shares of company stock worth $61,748,995 over the last ninety days. Insiders own 13.92% of the company’s stock.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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