Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by RFG Advisory LLC

RFG Advisory LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,158 shares of the information services provider’s stock after buying an additional 5,057 shares during the period. RFG Advisory LLC’s holdings in Alphabet were worth $4,712,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter valued at approximately $27,000. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.4%

Shares of Alphabet stock opened at $170.37 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day moving average price of $160.95 and a 200 day moving average price of $176.24. The company has a market capitalization of $2.07 trillion, a P/E ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now owns 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,270 shares of company stock worth $26,553,563. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GOOG. Susquehanna restated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Citigroup restated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Westpark Capital reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Finally, UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $204.88.

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.