RMR Wealth Builders Increases Position in Alphabet Inc. (NASDAQ:GOOG)

RMR Wealth Builders grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,033 shares of the information services provider’s stock after buying an additional 1,988 shares during the quarter. RMR Wealth Builders’ holdings in Alphabet were worth $3,050,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevated Capital Advisors LLC lifted its position in shares of Alphabet by 4.0% during the first quarter. Elevated Capital Advisors LLC now owns 15,470 shares of the information services provider’s stock worth $2,355,000 after purchasing an additional 589 shares during the last quarter. Ehrlich Financial Group purchased a new position in Alphabet in the 1st quarter worth about $202,000. Chemistry Wealth Management LLC lifted its holdings in Alphabet by 0.4% during the 1st quarter. Chemistry Wealth Management LLC now owns 102,602 shares of the information services provider’s stock valued at $15,622,000 after buying an additional 387 shares in the last quarter. Lpwm LLC boosted its position in Alphabet by 3.4% in the 1st quarter. Lpwm LLC now owns 3,084 shares of the information services provider’s stock valued at $486,000 after buying an additional 100 shares during the period. Finally, IAM Advisory LLC grew its stake in Alphabet by 4.2% in the 1st quarter. IAM Advisory LLC now owns 3,893 shares of the information services provider’s stock worth $593,000 after acquiring an additional 158 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Trading Up 0.8 %

Shares of NASDAQ GOOG opened at $186.86 on Friday. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $187.50. The business has a fifty day moving average price of $173.26 and a 200 day moving average price of $154.97. The stock has a market capitalization of $2.31 trillion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,284 shares of company stock valued at $24,534,393. 12.99% of the stock is currently owned by insiders.

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.