Oakworth Capital Inc. Buys 1,415 Shares of Alphabet Inc. (NASDAQ:GOOG)

Oakworth Capital Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,492 shares of the information services provider’s stock after buying an additional 1,415 shares during the quarter. Alphabet comprises approximately 2.4% of Oakworth Capital Inc.’s holdings, making the stock its 13th biggest position. Oakworth Capital Inc.’s holdings in Alphabet were worth $34,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. McHugh Group LLC acquired a new position in Alphabet during the fourth quarter worth approximately $2,907,000. Silver Oak Securities Incorporated boosted its stake in shares of Alphabet by 5.9% during the 4th quarter. Silver Oak Securities Incorporated now owns 11,358 shares of the information services provider’s stock worth $2,189,000 after acquiring an additional 628 shares during the period. Elm3 Financial Group LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $441,000. Financial Advocates Investment Management raised its stake in Alphabet by 4.6% in the 4th quarter. Financial Advocates Investment Management now owns 32,033 shares of the information services provider’s stock valued at $6,100,000 after acquiring an additional 1,405 shares during the period. Finally, Private Wealth Management Group LLC lifted its holdings in Alphabet by 8.7% during the 4th quarter. Private Wealth Management Group LLC now owns 1,630 shares of the information services provider’s stock valued at $310,000 after purchasing an additional 131 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer increased their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Alphabet stock opened at $187.14 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.29 trillion, a PE ratio of 23.25, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The business’s 50-day moving average price is $193.12 and its two-hundred day moving average price is $176.13.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.