Alphabet Inc. $GOOGL Position Decreased by RBA Wealth Management LLC

RBA Wealth Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the second quarter, Holdings Channel reports. The institutional investor owned 46,947 shares of the information services provider’s stock after selling 484 shares during the quarter. Alphabet comprises about 3.1% of RBA Wealth Management LLC’s portfolio, making the stock its 4th largest holding. RBA Wealth Management LLC’s holdings in Alphabet were worth $8,274,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the period. Invesco Ltd. increased its stake in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares during the period. Deutsche Bank AG increased its stake in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after buying an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after buying an additional 104,859 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company’s stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,738 shares of company stock valued at $59,135,475. 11.64% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $245.69 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a fifty day moving average price of $220.21 and a 200 day moving average price of $185.22. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a market cap of $2.97 trillion, a PE ratio of 26.17, a P/E/G ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Moffett Nathanson increased their price target on shares of Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research note on Thursday, September 25th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Bank of America increased their price target on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Mizuho set a $295.00 price target on shares of Alphabet and gave the company an “outperform” rating in a research note on Monday. Finally, Wedbush increased their price target on shares of Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $240.76.

Alphabet Company 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.