RBA Wealth Management LLC Has $8.89 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RBA Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,951 shares of the information services provider’s stock after selling 333 shares during the period. Alphabet makes up 3.4% of RBA Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. RBA Wealth Management LLC’s holdings in Alphabet were worth $8,888,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Miracle Mile Advisors LLC grew its stake in Alphabet by 3.0% in the third quarter. Miracle Mile Advisors LLC now owns 107,968 shares of the information services provider’s stock valued at $17,907,000 after acquiring an additional 3,144 shares during the period. MKT Advisors LLC raised its position in shares of Alphabet by 0.8% during the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. Value Partners Investments Inc. lifted its holdings in shares of Alphabet by 1,587.8% in the 3rd quarter. Value Partners Investments Inc. now owns 248,224 shares of the information services provider’s stock worth $41,168,000 after purchasing an additional 233,517 shares in the last quarter. Cohen Investment Advisors LLC grew its position in Alphabet by 2.8% in the 3rd quarter. Cohen Investment Advisors LLC now owns 29,304 shares of the information services provider’s stock valued at $4,860,000 after purchasing an additional 797 shares during the period. Finally, Sterling Group Wealth Management LLC increased its stake in Alphabet by 4.6% during the 3rd quarter. Sterling Group Wealth Management LLC now owns 3,624 shares of the information services provider’s stock valued at $601,000 after purchasing an additional 160 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.9 %

NASDAQ:GOOGL opened at $183.61 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a market cap of $2.25 trillion, a P/E ratio of 22.81, a P/E/G ratio of 1.39 and a beta of 0.99. The stock’s fifty day moving average price is $192.18 and its two-hundred day moving average price is $174.89.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts expect that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price target on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Finally, Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,529 shares of company stock valued at $16,600,078. Corporate insiders own 11.55% of the company’s stock.

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.