Rainey & Randall Wealth Advisors Inc. Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Rainey & Randall Wealth Advisors Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,142 shares of the information services provider’s stock, valued at approximately $595,000.

Several other hedge funds have also recently bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $39,000. Finally, PayPay Securities Corp grew its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $173.86 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.12 trillion, a PE ratio of 21.60, a P/E/G ratio of 1.34 and a beta of 0.99. The stock’s 50 day moving average is $188.21 and its 200-day moving average is $176.40. Alphabet Inc. has a twelve month low of $134.00 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued 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 return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research report on Thursday, February 6th. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Cantor Fitzgerald decreased their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Finally, KeyCorp lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $210.62.

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.