RFG Advisory LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RFG Advisory LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,840 shares of the information services provider’s stock after selling 474 shares during the quarter. RFG Advisory LLC’s holdings in Alphabet were worth $7,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Eldred Rock Partners LLC grew its stake in shares of Alphabet by 1.0% in the first quarter. Eldred Rock Partners LLC now owns 80,024 shares of the information services provider’s stock valued at $12,078,000 after buying an additional 801 shares in the last quarter. Midwest Financial Group LLC bought a new stake in shares of Alphabet in the 1st quarter worth approximately $595,000. PFW Advisors LLC boosted its position in Alphabet by 8.0% during the 1st quarter. PFW Advisors LLC now owns 7,096 shares of the information services provider’s stock valued at $1,071,000 after purchasing an additional 524 shares during the period. Wynn Capital LLC grew its stake in Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after buying an additional 67 shares during the last quarter. Finally, Private Capital Management LLC grew its position in shares of Alphabet by 6.2% during the fourth quarter. Private Capital Management LLC now owns 34,071 shares of the information services provider’s stock worth $4,759,000 after acquiring an additional 2,000 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares in the company, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Insiders have sold a total of 135,958 shares of company stock worth $22,383,553 in the last ninety days. 11.55% of the stock is owned by insiders.

Alphabet Trading Up 1.9 %

NASDAQ GOOGL opened at $179.63 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $170.05 and its two-hundred day simple moving average is $152.56. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $180.85. The company has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 EPS. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOGL. Royal Bank of Canada increased their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Argus upped their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Tuesday, June 11th. Finally, Oppenheimer raised their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $193.26.

Alphabet 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.