Frank Rimerman Advisors LLC Acquires 11,998 Shares of Alphabet Inc. (NASDAQ:GOOG)

Frank Rimerman Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,311 shares of the information services provider’s stock after buying an additional 11,998 shares during the quarter. Alphabet accounts for about 2.0% of Frank Rimerman Advisors LLC’s holdings, making the stock its 11th biggest holding. Frank Rimerman Advisors LLC’s holdings in Alphabet were worth $28,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Richardson Financial Services Inc. acquired a new position in Alphabet during the fourth quarter worth about $34,000. 1620 Investment Advisors Inc. bought a new position in Alphabet in the 2nd quarter valued at approximately $37,000. Slocum Gordon & Co LLP bought a new position in Alphabet in the 2nd quarter valued at approximately $44,000. Hoese & Co LLP grew its stake in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of Alphabet during the second quarter worth $48,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the sale, the chief executive officer now owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock valued at $33,964,256 in the last ninety days. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOG. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer upped their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $182.86.

Alphabet Stock Performance

NASDAQ:GOOG opened at $164.64 on Friday. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.25, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a 50 day simple moving average of $166.26 and a two-hundred day simple moving average of $167.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.