Frank Rimerman Advisors LLC Has $41.24 Million Stock Position in Alphabet Inc. $GOOGL

Frank Rimerman Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 233,997 shares of the information services provider’s stock after buying an additional 27,505 shares during the period. Alphabet comprises approximately 2.8% of Frank Rimerman Advisors LLC’s holdings, making the stock its 9th largest holding. Frank Rimerman Advisors LLC’s holdings in Alphabet were worth $41,237,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Financial Gravity Companies Inc. acquired a new position in Alphabet in the second quarter valued at approximately $31,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $50,000. Finally, Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 77.6% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 152 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 225,072 shares of company stock valued at $58,074,027. Insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Loop Capital upgraded Alphabet from a “hold” rating to a “buy” rating and upped their price objective for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Needham & Company LLC boosted their price objective on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Arete increased their target price on shares of Alphabet from $220.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Robert W. Baird boosted their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Finally, JMP Securities reiterated a “market outperform” rating and set a $290.00 target price on shares of Alphabet in a report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $307.84.

Alphabet Price Performance

Shares of GOOGL opened at $320.02 on Friday. The company has a 50 day moving average of $269.25 and a 200-day moving average of $219.18. 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 stock has a market capitalization of $3.86 trillion, a P/E ratio of 31.56, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share 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 business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

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.