Running Oak Capital LLC Has $16.83 Million Stock Holdings in Alphabet Inc. $GOOG

Running Oak Capital LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 94,855 shares of the information services provider’s stock after purchasing an additional 5,178 shares during the quarter. Alphabet comprises about 1.9% of Running Oak Capital LLC’s portfolio, making the stock its 22nd largest holding. Running Oak Capital LLC’s holdings in Alphabet were worth $16,826,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth $2,622,943,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Alphabet during the first quarter worth $369,713,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company’s stock, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock valued at $59,135,475 in the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented 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 report on Monday, September 22nd. Jefferies Financial Group raised their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Oppenheimer restated an “outperform” rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Morgan Stanley raised their target price on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

Alphabet Stock Down 1.7%

Alphabet stock opened at $247.13 on Wednesday. The company has a fifty day simple moving average of $224.07 and a 200 day simple moving average of $188.32. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70. The company has a market cap of $2.99 trillion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The company’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.