Alphabet Inc. (NASDAQ:GOOGL) is RDA Financial Network’s 7th Largest Position

Posted by on Mar 20th, 2023

RDA Financial Network trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,632 shares of the information services provider’s stock after selling 764 shares during the period. Alphabet accounts for about 2.0% of RDA Financial Network’s holdings, making the stock its 7th largest holding. RDA Financial Network’s holdings in Alphabet were worth $3,938,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. McGuire Investment Group LLC lifted its position in shares of Alphabet by 4.6% during the 4th quarter. McGuire Investment Group LLC now owns 59,038 shares of the information services provider’s stock worth $5,209,000 after buying an additional 2,573 shares during the last quarter. Gries Financial LLC lifted its position in Alphabet by 10.6% in the fourth quarter. Gries Financial LLC now owns 5,307 shares of the information services provider’s stock valued at $468,000 after acquiring an additional 507 shares during the last quarter. Peregrine Capital Management LLC lifted its position in Alphabet by 1.6% in the fourth quarter. Peregrine Capital Management LLC now owns 607,347 shares of the information services provider’s stock valued at $53,586,000 after acquiring an additional 9,481 shares during the last quarter. BCS Wealth Management boosted its stake in Alphabet by 18.5% in the fourth quarter. BCS Wealth Management now owns 3,200 shares of the information services provider’s stock valued at $282,000 after acquiring an additional 500 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Alphabet during the fourth quarter worth about $8,295,000. 34.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOGL. Wells Fargo & Company upped their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. KeyCorp decreased their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alphabet in a report on Wednesday, March 8th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.44.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 74,245 shares of company stock worth $7,174,078 over the last ninety days. 11.44% of the stock is owned by company insiders.

Alphabet Trading Up 1.3 %

Shares of GOOGL opened at $101.62 on Monday. The stock’s fifty day simple moving average is $95.08 and its 200 day simple moving average is $96.09. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter last year, the business earned $1.53 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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