Oppenheimer & Co. Inc. Boosts Stake in Alphabet Inc. (GOOG)

Oppenheimer & Co. Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,642 shares of the information services provider’s stock after buying an additional 472 shares during the period. Alphabet makes up approximately 0.7% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 23rd biggest holding. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $25,785,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GOOG. Stuart Chaussee & Associates Inc. raised its holdings in shares of Alphabet by 108.3% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after purchasing an additional 52 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares during the last quarter. Price Wealth Management Inc. purchased a new position in shares of Alphabet during the fourth quarter worth $125,000. Almanack Investment Partners LLC. raised its holdings in shares of Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares during the last quarter. Finally, WealthTrust Arizona LLC raised its holdings in shares of Alphabet by 134.9% during the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 34.84% of the company’s stock.

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Several research analysts recently issued reports on GOOG shares. UBS reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Morningstar reissued a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Piper Jaffray raised their target price on shares of Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. Finally, Vetr raised shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price objective for the company in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-five have given a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,088.68.

In related news, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction dated Thursday, April 12th. The shares were sold at an average price of $1,028.26, for a total transaction of $5,850,799.40. Following the transaction, the senior vice president now directly owns 4,220 shares in the company, valued at $4,339,257.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $1,077.67, for a total transaction of $4,310,680.00. Following the transaction, the chief executive officer now owns 615 shares in the company, valued at $662,767.05. The disclosure for this sale can be found here. Insiders have sold 54,410 shares of company stock valued at $58,408,136 in the last three months. Corporate insiders own 13.92% of the company’s stock.

GOOG stock opened at $1,072.96 on Friday. The stock has a market cap of $744,862.94, a PE ratio of 33.48 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc. has a 52 week low of $840.60 and a 52 week high of $1,186.89.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The company had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm earned $9.36 EPS.

Alphabet declared that its board has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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