Okabena Investment Services Inc. Has $3.31 Million Holdings in Alphabet Inc. $GOOGL

Okabena Investment Services Inc. grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 19.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,784 shares of the information services provider’s stock after purchasing an additional 3,078 shares during the period. Okabena Investment Services Inc.’s holdings in Alphabet were worth $3,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. NBZ Investment Advisors LLC raised its holdings in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Alphabet in the second quarter valued at $31,000. CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in Alphabet by 37.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock worth $57,000 after buying an additional 89 shares in the last quarter. Finally, Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 77.6% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after buying an additional 152 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Cantor Fitzgerald lifted their target price on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Wedbush reissued an “outperform” rating and issued a $320.00 price objective (up previously from $245.00) on shares of Alphabet in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, BNP Paribas started coverage on shares of Alphabet in a research report on Monday, November 24th. They set an “outperform” rating and a $355.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.65.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $317.08 on Wednesday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The company’s 50 day moving average price is $279.02 and its two-hundred day moving average price is $226.96. The firm has a market cap of $3.83 trillion, a PE ratio of 31.27, a PEG ratio of 1.82 and a beta of 1.07. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In related news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the sale, the director owned 18,104 shares of the company’s stock, valued at $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares in the company, valued at $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 226,128 shares of company stock valued at $61,326,372. 11.55% 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.