Oak Associates Ltd. OH Sells 29,025 Shares of Alphabet Inc. $GOOG

Oak Associates Ltd. OH cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 468,564 shares of the information services provider’s stock after selling 29,025 shares during the period. Alphabet comprises about 5.4% of Oak Associates Ltd. OH’s holdings, making the stock its 2nd biggest holding. Oak Associates Ltd. OH’s holdings in Alphabet were worth $83,119,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. IFS Advisors LLC boosted its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its stake in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares during the last quarter. University of Illinois Foundation purchased a new stake in shares of Alphabet during the second quarter worth approximately $31,000. Finally, Fairman Group LLC increased its position in shares of Alphabet by 121.3% during the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOG stock opened at $318.47 on Tuesday. The firm’s 50-day moving average is $264.32 and its two-hundred day moving average is $215.82. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $319.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.84 trillion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. During the same quarter last year, the firm earned $2.12 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Sanford C. Bernstein lifted their target price on shares of Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. HSBC restated a “buy” rating and set a $335.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, BMO Capital Markets restated an “outperform” rating and set a $340.00 target price on shares of Alphabet in a report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $324.81.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,952 shares of company stock valued at $58,896,009 in the last quarter. Insiders own 12.99% of the company’s stock.

About Alphabet

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.