Oakworth Capital Inc. Has $4.72 Million Holdings in Alphabet Inc. $GOOGL

Oakworth Capital Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,779 shares of the information services provider’s stock after purchasing an additional 2,942 shares during the period. Alphabet comprises approximately 0.3% of Oakworth Capital Inc.’s investment portfolio, making the stock its 29th biggest holding. Oakworth Capital Inc.’s holdings in Alphabet were worth $4,719,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet during the first quarter worth $28,000. von Borstel & Associates Inc. bought a new position in Alphabet during the first quarter worth $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter worth $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.1%

GOOGL stock opened at $245.35 on Friday. The company has a market cap of $2.97 trillion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The business has a 50-day simple moving average of $221.25 and a 200 day simple moving average of $185.96. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have commented on GOOGL. Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Mizuho set a $295.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Saturday, September 27th. Tigress Financial lifted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Finally, KeyCorp lifted their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $240.76.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was 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. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value 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 over the last quarter. 11.64% of the stock is owned by corporate insiders.

Alphabet Company 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.