Alphabet Inc. $GOOG Holdings Boosted by RDA Financial Network

RDA Financial Network boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 11,094 shares of the information services provider’s stock after buying an additional 554 shares during the quarter. RDA Financial Network’s holdings in Alphabet were worth $1,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC boosted its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 0.2%

Alphabet stock opened at $241.38 on Friday. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The firm has a fifty day moving average price of $202.67 and a two-hundred day moving average price of $178.86.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 22nd. UBS Group lifted their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $232.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $227.56.

Alphabet Company 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.