TigerOak Management L.L.C. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

TigerOak Management L.L.C. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 19,918 shares of the information services provider's stock, valued at approximately $3,793,000. Alphabet accounts for approximately 1.4% of TigerOak Management L.L.C.'s portfolio, making the stock its 15th biggest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&G PLC bought a new position in Alphabet in the 3rd quarter worth about $2,240,000. GPS Wealth Strategies Group LLC boosted its stake in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC boosted its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock valued at $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $927,000. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 2.3 %

Shares of GOOG stock traded down $4.37 during trading hours on Friday, reaching $182.27. The company's stock had a trading volume of 11,208,700 shares, compared to its average volume of 17,409,787. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 22.64, a P/E/G ratio of 1.35 and a beta of 1.00. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The firm's fifty day simple moving average is $194.22 and its 200 day simple moving average is $177.08. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet's dividend payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,609 shares of company stock worth $21,809,990. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Barclays raised their price objective on Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.

Alphabet 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.