RMR Wealth Builders Has $7.20 Million Position in Alphabet Inc. $GOOG

RMR Wealth Builders grew its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 27.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,577 shares of the information services provider’s stock after purchasing an additional 6,395 shares during the period. Alphabet makes up 0.6% of RMR Wealth Builders’ portfolio, making the stock its 27th biggest position. RMR Wealth Builders’ holdings in Alphabet were worth $7,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Vanguard Group Inc. grew its stake in Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after acquiring an additional 5,182,111 shares in the last quarter. State Street Corp lifted its position in shares of Alphabet by 1.3% in the second quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after purchasing an additional 2,428,266 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the period. Sanders Capital LLC grew its position in Alphabet by 6.4% during the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after purchasing an additional 2,117,990 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Alphabet by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 31,503,035 shares of the information services provider’s stock valued at $5,588,323,000 after purchasing an additional 695,736 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 933 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $336.55, for a total value of $314,001.15. Following the sale, the chief accounting officer directly owned 9,916 shares of the company’s stock, valued at approximately $3,337,229.80. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The disclosure for this sale is available in the SEC filing. Insiders sold 2,070,464 shares of company stock valued at $106,153,077 in the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. KeyCorp set a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Piper Sandler reissued an “overweight” rating and set a $395.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Bank of America boosted their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Guggenheim reaffirmed a “buy” rating and set a $375.00 price target on shares of Alphabet in a research note on Monday, December 1st. Finally, Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 18th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $343.47.

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Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $318.63 on Wednesday. The stock has a market capitalization of $3.84 trillion, a P/E ratio of 29.48, a P/E/G ratio of 1.92 and a beta of 1.10. The business has a 50-day moving average of $322.56 and a two-hundred day moving average of $273.75. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $350.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. During the same quarter in the prior year, the firm posted $2.15 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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