Oak Asset Management LLC Boosts Position in Alphabet Inc (NASDAQ:GOOG)

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Oak Asset Management LLC boosted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 487 shares of the information services provider’s stock after acquiring an additional 22 shares during the quarter. Oak Asset Management LLC’s holdings in Alphabet were worth $688,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Alphabet by 1.5% during the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock worth $23,563,444,000 after purchasing an additional 295,467 shares in the last quarter. State Street Corp boosted its stake in Alphabet by 0.8% during the first quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock valued at $13,737,468,000 after buying an additional 98,084 shares during the last quarter. Capital International Investors boosted its stake in Alphabet by 5.0% during the first quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock valued at $5,297,617,000 after buying an additional 218,823 shares during the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 3.5% during the first quarter. Geode Capital Management LLC now owns 4,403,934 shares of the information services provider’s stock valued at $5,110,389,000 after buying an additional 149,012 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Alphabet by 0.6% during the first quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock valued at $4,310,974,000 after buying an additional 22,951 shares during the last quarter. Institutional investors own 33.00% of the company’s stock.

GOOG traded down $4.69 during trading on Thursday, hitting $1,491.31. 516,414 shares of the stock were exchanged, compared to its average volume of 1,785,144. The firm has a 50 day simple moving average of $1,428.20 and a 200 day simple moving average of $1,358.65. The firm has a market cap of $1,013.81 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 2.24 and a beta of 1.05. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,532.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company had revenue of $41.16 billion during the quarter, compared to analysts’ expectations of $40.29 billion. During the same quarter in the prior year, the business posted $9.50 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc will post 41.23 earnings per share for the current fiscal year.

A number of equities analysts recently commented on GOOG shares. Deutsche Bank reissued a “buy” rating and set a $1,700.00 price target on shares of Alphabet in a research note on Tuesday, May 5th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. BMO Capital Markets raised Alphabet from a “market perform” rating to an “outperform” rating in a research note on Monday, March 30th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, April 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $1,580.52.

In other news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $1,434.85, for a total value of $86,091.00. Following the completion of the sale, the director now owns 629 shares of the company’s stock, valued at approximately $902,520.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 30 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total value of $39,855.00. Following the completion of the sale, the director now directly owns 1,119 shares of the company’s stock, valued at approximately $1,486,591.50. The disclosure for this sale can be found here. Insiders sold a total of 242 shares of company stock worth $342,902 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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