Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by RBA Wealth Management LLC

RBA Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,284 shares of the information services provider’s stock after purchasing an additional 118 shares during the quarter. Alphabet comprises approximately 3.0% of RBA Wealth Management LLC’s portfolio, making the stock its 4th biggest position. RBA Wealth Management LLC’s holdings in Alphabet were worth $7,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Waldron Private Wealth LLC boosted its holdings in shares of Alphabet by 4.8% in the third quarter. Waldron Private Wealth LLC now owns 73,705 shares of the information services provider’s stock valued at $12,224,000 after acquiring an additional 3,391 shares during the period. Hofer & Associates. Inc boosted its holdings in shares of Alphabet by 4.6% in the third quarter. Hofer & Associates. Inc now owns 4,712 shares of the information services provider’s stock valued at $781,000 after acquiring an additional 209 shares during the period. Eastern Bank boosted its holdings in shares of Alphabet by 119.6% in the third quarter. Eastern Bank now owns 872,890 shares of the information services provider’s stock valued at $144,769,000 after acquiring an additional 475,488 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $8,137,000. Finally, Graybill Wealth Management LTD. boosted its holdings in shares of Alphabet by 0.6% in the third quarter. Graybill Wealth Management LTD. now owns 63,691 shares of the information services provider’s stock valued at $10,563,000 after acquiring an additional 392 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $171.29 on Friday. The company has a market cap of $2.11 trillion, a P/E ratio of 22.72, a PEG ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. Alphabet Inc. has a one year low of $126.93 and a one year high of $191.75. The business’s 50-day simple moving average is $162.43 and its 200 day simple moving average is $169.01.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 7.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is currently 10.61%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,244 shares of company stock worth $37,776,954. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Sanford C. Bernstein upped their price target on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. TD Securities upped their price target on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Citigroup upped their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $205.51.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.