15,050 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by RD Finance Ltd

RD Finance Ltd acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,050 shares of the information services provider’s stock, valued at approximately $2,327,000. Alphabet accounts for 1.9% of RD Finance Ltd’s investment portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. boosted its stake in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after buying an additional 1,791 shares during the period. Harbour Trust & Investment Management Co boosted its stake in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after buying an additional 80 shares during the period. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $3,119,000. Cypress Capital LLC boosted its stake in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the period. Finally, Optivise Advisory Services LLC boosted its stake in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after buying an additional 403 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $196.09 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm’s 50 day moving average is $179.76 and its 200-day moving average is $173.12. The firm has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.32 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. Truist Financial reissued a “buy” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. BMO Capital Markets raised their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Mizuho cut their price target 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. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, KeyCorp raised their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued 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 target price of $211.53.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,219 shares of company stock worth $49,474,273. Corporate insiders own 11.64% of the company’s stock.

Alphabet 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.