RDA Financial Network Has $7.90 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RDA Financial Network boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,609 shares of the information services provider’s stock after acquiring an additional 1,126 shares during the quarter. Alphabet accounts for approximately 2.4% of RDA Financial Network’s portfolio, making the stock its 6th largest holding. RDA Financial Network’s holdings in Alphabet were worth $7,896,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new position in Alphabet in the 1st quarter worth $30,000. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new stake in Alphabet during the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $162.78 on Thursday. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm’s 50-day moving average is $161.87 and its 200 day moving average is $168.40.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the transaction, the director now owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOGL shares. The Goldman Sachs Group lowered their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Argus lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Bank of America increased their price target on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.76.

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.