Alphabet Inc. $GOOGL Shares Sold by RBA Wealth Management LLC

RBA Wealth Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 46,947 shares of the information services provider’s stock after selling 484 shares during the quarter. Alphabet comprises 3.1% of RBA Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. RBA Wealth Management LLC’s holdings in Alphabet were worth $8,274,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Canaccord Genuity Group boosted their price target on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Susquehanna boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, July 24th. Barclays increased their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Roth Capital upped their price objective on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $240.76.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $245.69 on Friday. The stock has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. 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 business has a 50-day moving average of $220.21 and a 200 day moving average of $185.22. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00.

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

Alphabet Dividend Announcement

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

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.