Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lowered by RFP Financial Group LLC

RFP Financial Group LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,341 shares of the information services provider’s stock after selling 417 shares during the quarter. Alphabet accounts for 0.8% of RFP Financial Group LLC’s holdings, making the stock its 23rd biggest position. RFP Financial Group LLC’s holdings in Alphabet were worth $2,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOG opened at $185.43 on Thursday. The stock has a market cap of $2.27 trillion, a P/E ratio of 23.03, a PEG ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a fifty day moving average price of $193.70 and a 200 day moving average price of $176.40. 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 (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOG. Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Oppenheimer boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.