Orion Capital Management LLC Has $3.59 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Orion Capital Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,443 shares of the information services provider’s stock after buying an additional 470 shares during the period. Alphabet accounts for about 2.1% of Orion Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Orion Capital Management LLC’s holdings in Alphabet were worth $3,586,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GOOG. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the 4th quarter worth $26,000. Tandem Wealth Advisors LLC bought a new position in shares of Alphabet in the 3rd quarter worth $25,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the 4th quarter worth $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the 4th quarter worth $32,000. Finally, Buck Wealth Strategies LLC bought a new position in shares of Alphabet in the 3rd quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.7 %

Shares of GOOG opened at $168.46 on Friday. The business has a 50-day moving average of $150.99 and a 200 day moving average of $143.49. Alphabet Inc. has a fifty-two week low of $104.70 and a fifty-two week high of $176.42. The firm has a market cap of $2.09 trillion, a P/E ratio of 25.84, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm posted $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GOOG shares. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James lifted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $165.67.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,129 shares of company stock valued at $40,382,765. 12.99% of the stock is owned by insiders.

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.