RB Capital Management LLC Has $4.16 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

RB Capital Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 29,769 shares of the information services provider’s stock after acquiring an additional 2,121 shares during the period. Alphabet comprises 1.2% of RB Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. RB Capital Management LLC’s holdings in Alphabet were worth $4,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Howe & Rusling Inc. increased its position in Alphabet by 2.0% during the fourth quarter. Howe & Rusling Inc. now owns 3,867 shares of the information services provider’s stock worth $540,000 after buying an additional 75 shares during the last quarter. Concord Wealth Partners increased its holdings in shares of Alphabet by 36.6% during the 4th quarter. Concord Wealth Partners now owns 18,918 shares of the information services provider’s stock valued at $2,643,000 after acquiring an additional 5,069 shares during the last quarter. Alpha Financial Advisors LLC bought a new position in shares of Alphabet in the 4th quarter valued at approximately $324,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the 4th quarter worth approximately $38,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its position in Alphabet by 2.0% during the fourth quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 7,941 shares of the information services provider’s stock worth $1,109,000 after purchasing an additional 154 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

NASDAQ:GOOGL opened at $169.96 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $107.93 and a 12-month high of $174.71. The stock’s fifty day simple moving average is $152.06 and its 200-day simple moving average is $143.01. The firm has a market capitalization of $2.10 trillion, a P/E ratio of 26.07, a P/E/G ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business earned $1.17 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now directly owns 7,164 shares in the company, valued at $1,072,665.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,629 shares of company stock valued at $37,091,240. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Roth Mkm boosted their price objective on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Needham & Company LLC lifted their price objective on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their price objective on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

About Alphabet

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.