Rogco LP Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Rogco LP lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 57.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,964 shares of the information services provider’s stock after acquiring an additional 5,828 shares during the quarter. Alphabet comprises approximately 1.0% of Rogco LP’s portfolio, making the stock its 20th largest position. Rogco LP’s holdings in Alphabet were worth $2,230,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Tower View Wealth Management LLC grew its holdings in Alphabet by 0.8% during the 4th quarter. Tower View Wealth Management LLC now owns 20,672 shares of the information services provider’s stock valued at $2,888,000 after purchasing an additional 161 shares in the last quarter. FFT Wealth Management LLC boosted its position in Alphabet by 5.7% in the 4th quarter. FFT Wealth Management LLC now owns 15,253 shares of the information services provider’s stock valued at $2,131,000 after buying an additional 818 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Alphabet by 17.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 206,191 shares of the information services provider’s stock valued at $28,803,000 after acquiring an additional 30,866 shares in the last quarter. Searle & CO. increased its position in shares of Alphabet by 5.9% during the fourth quarter. Searle & CO. now owns 1,800 shares of the information services provider’s stock worth $251,000 after acquiring an additional 100 shares during the last quarter. Finally, RB Capital Management LLC lifted its stake in shares of Alphabet by 7.7% in the fourth quarter. RB Capital Management LLC now owns 29,769 shares of the information services provider’s stock worth $4,158,000 after acquiring an additional 2,121 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 in the last three months. 0.88% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $169.96 on Friday. Alphabet Inc. has a 52 week low of $107.93 and a 52 week high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.10 trillion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The company’s 50-day moving average price is $152.06 and its two-hundred day moving average price is $143.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during 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 prior year, the business earned $1.17 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Raymond James lifted their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Redburn Atlantic increased their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Morgan Stanley boosted their target price on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. JMP Securities increased their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday, April 26th. Finally, Sanford C. Bernstein boosted their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating 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’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

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.