Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by RB Capital Management LLC

by · The Markets Daily

RB Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 32,964 shares of the information services provider’s stock after acquiring an additional 425 shares during the period. Alphabet accounts for about 1.4% of RB Capital Management LLC’s portfolio, making the stock its 17th largest position. RB Capital Management LLC’s holdings in Alphabet were worth $6,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Norges Bank acquired a new position in Alphabet in the 4th quarter valued at about $24,383,677,000. FMR LLC lifted its holdings in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 2.8%

Shares of NASDAQ:GOOGL opened at $168.56 on Thursday. The stock has a market cap of $2.05 trillion, a P/E ratio of 20.94, a P/E/G ratio of 1.34 and a beta of 1.01. The firm has a fifty day moving average price of $158.29 and a 200 day moving average price of $174.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the business earned $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is presently 9.36%.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,744 shares of company stock valued at $20,968,366 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on GOOGL shares. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Citigroup upped their price objective on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Susquehanna cut their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $199.75.

Read Our Latest Analysis on Alphabet

About Alphabet

(Free Report)

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.

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