Sage Rhino Capital LLC Raises Stock Position in Alphabet Inc. $GOOGL

Sage Rhino Capital LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,213 shares of the information services provider’s stock after purchasing an additional 1,445 shares during the period. Sage Rhino Capital LLC’s holdings in Alphabet were worth $2,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. raised its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the first quarter worth about $39,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock worth $59,135,475. Insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOGL. Needham & Company LLC upped their price objective on shares of Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Robert W. Baird boosted their target price on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Phillip Securities cut shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Loop Capital reissued a “hold” rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Finally, Citizens Jmp boosted their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, September 19th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $240.76.

Alphabet Stock Up 0.3%

NASDAQ GOOGL opened at $245.69 on Friday. The business’s fifty day simple moving average is $220.21 and its 200-day simple moving average is $185.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm 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 Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.

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

Alphabet Dividend Announcement

The company 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 payout ratio is presently 8.95%.

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.