RNC Capital Management LLC Has $3.76 Million Stock Holdings in Alphabet Inc. $GOOGL

RNC Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,343 shares of the information services provider’s stock after purchasing an additional 674 shares during the period. RNC Capital Management LLC’s holdings in Alphabet were worth $3,761,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in shares of Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Amundi raised its holdings in shares of Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in shares of Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 222,330 shares of company stock worth $51,167,625. Insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on GOOGL shares. Truist Financial raised their price objective on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research restated an “outperform” rating and set a $350.00 price objective (up from $290.00) on shares of Alphabet in a report on Thursday. BNP Paribas Exane raised their price objective on shares of Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Citizens Jmp raised their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Finally, Loop Capital raised their price objective on shares of Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.20.

Alphabet Price Performance

Shares of GOOGL opened at $281.31 on Monday. The company has a market cap of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59. The company’s fifty day simple moving average is $244.00 and its 200 day simple moving average is $200.31. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Company 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.