Oak Grove Capital LLC Buys New Stake in Alphabet Inc. $GOOG

Oak Grove Capital LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the second quarter, Holdings Channel.com reports. The fund bought 1,800 shares of the information services provider’s stock, valued at approximately $319,000.

A number of other hedge funds have also recently modified their holdings of GOOG. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley grew its position in Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC grew its position in Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC grew its position in Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter worth $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.5%

GOOG stock opened at $275.17 on Thursday. Alphabet Inc. has a one year low of $142.66 and a one year high of $275.97. The stock has a market capitalization of $3.33 trillion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average of $241.46 and a 200-day moving average of $199.27.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same period in the previous year, the firm posted $2.12 earnings per share. Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GOOG shares. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. TD Cowen raised their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating and set a $310.00 price objective on shares of Alphabet in a research report on Thursday, October 16th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer set a $300.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, October 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $297.56.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.