Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Rappaport Reiches Capital Management LLC

Rappaport Reiches Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,090 shares of the information services provider’s stock after purchasing an additional 837 shares during the period. Alphabet makes up about 0.6% of Rappaport Reiches Capital Management LLC’s holdings, making the stock its 23rd biggest position. Rappaport Reiches Capital Management LLC’s holdings in Alphabet were worth $2,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC increased its position in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky boosted its stake in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC grew its holdings in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after acquiring an additional 138 shares during the period. North Forty Two & Co. purchased a new position in Alphabet in the 4th quarter valued at approximately $281,000. Finally, Fermata Advisors LLC raised its holdings in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 228,070 shares of company stock valued at $37,745,632. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Price Performance

GOOG stock opened at $167.73 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The stock’s fifty day simple moving average is $166.31 and its 200-day simple moving average is $176.39. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.