Orca Investment Management LLC Has $6.29 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Orca Investment Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,597 shares of the information services provider’s stock after selling 161 shares during the period. Alphabet makes up 6.0% of Orca Investment Management LLC’s holdings, making the stock its 3rd biggest position. Orca Investment Management LLC’s holdings in Alphabet were worth $6,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tandem Wealth Advisors LLC bought a new position in Alphabet during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet in the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the fourth quarter worth about $28,000. Buck Wealth Strategies LLC acquired a new stake in Alphabet during the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. bought a new position in Alphabet in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $164.64 on Wednesday. Alphabet Inc. has a twelve month low of $104.50 and a twelve month high of $176.42. The stock’s 50 day moving average is $150.09 and its 200-day moving average is $143.16. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.25, a PEG ratio of 1.31 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 7.46 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $165.67.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,289 shares of company stock worth $36,724,534 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

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.