RKL Wealth Management LLC Has $888,000 Stake in Alphabet Inc. $GOOG

RKL Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,005 shares of the information services provider’s stock after selling 213 shares during the quarter. RKL Wealth Management LLC’s holdings in Alphabet were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOG. Kingstone Capital Partners Texas LLC grew its holdings in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new position in shares of Alphabet in the 1st quarter valued at about $2,622,943,000. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Alphabet in the 1st quarter valued at about $369,713,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.0%

Shares of NASDAQ:GOOG opened at $246.45 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70. The stock has a market cap of $2.98 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The business has a 50 day moving average of $221.89 and a 200-day moving average of $187.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the sale, the director owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GOOG shares. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank lifted their price target on Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 22nd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.33.

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.