RBO & Co. LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

RBO & Co. LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,240 shares of the information services provider’s stock after acquiring an additional 140 shares during the quarter. RBO & Co. LLC’s holdings in Alphabet were worth $1,710,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. Meritage Group LP raised its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the last quarter. Armor Investment Advisors LLC increased its holdings in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 205,835 shares of company stock worth $32,177,952. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOGL shares. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Needham & Company LLC lifted their target price on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, May 15th. Piper Sandler reissued an “overweight” rating and issued a $200.00 price target (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Finally, Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $191.57.

Get Our Latest Report on GOOGL

Alphabet Trading Up 0.9 %

Shares of GOOGL stock opened at $175.41 on Thursday. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The company’s 50-day moving average price is $164.82 and its 200-day moving average price is $149.09. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the previous year, the firm earned $1.17 EPS. As a group, equities analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%.

Alphabet Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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