RBA Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,206 shares of the information services provider’s stock after purchasing an additional 175 shares during the period. Alphabet accounts for 2.7% of RBA Wealth Management LLC’s investment portfolio, making the stock its 5th largest holding. RBA Wealth Management LLC’s holdings in Alphabet were worth $5,890,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Live Oak Investment Partners acquired a new position in shares of Alphabet in the 4th quarter valued at $26,000. Armor Investment Advisors LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $28,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet in the 4th quarter valued at $34,000. Turim 21 Investimentos Ltda. acquired a new position in shares of Alphabet in the 3rd quarter valued at $38,000. Finally, IAG Wealth Partners LLC boosted its stake in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. 35.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of recent research reports. Evercore ISI increased their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Jefferies Financial Group raised their target price on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. JMP Securities reiterated a “market outperform” rating and issued a $138.00 price target on shares of Alphabet in a report on Wednesday, August 30th. Tigress Financial raised their target price on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a report on Friday, July 14th. Finally, Sanford C. Bernstein lifted their price target on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $144.00.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The disclosure for this sale can be found here. Insiders have sold a total of 101,291 shares of company stock worth $13,555,462 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $138.06 on Wednesday. The stock has a 50-day simple moving average of $132.88 and a 200 day simple moving average of $122.24. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $139.72.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period last year, the company earned $1.21 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
See Also
- Five stocks we like better than Alphabet
- What Is Dividend Yield and How Do You Calculate It?
- 5 Reasons Gilead Sciences is a Better Buy Than You Think
- How to Invest in Solar Energy
- Jobs Are Going To The Construction Industry, Momentum Play Time
- Investing in Agriculture 101: How to Invest in Agriculture
- PepsiCo Q3 Strength Results In A Trend Following Buy Signal
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
