Sage Rhino Capital LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sage Rhino Capital LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,221 shares of the information services provider’s stock after buying an additional 1,428 shares during the period. Sage Rhino Capital LLC’s holdings in Alphabet were worth $3,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter valued at about $26,000. LSV Asset Management purchased a new stake in Alphabet in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new stake in Alphabet in the first quarter worth about $32,000. Finally, WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $178.70 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. 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 $2.17 trillion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The stock’s 50-day moving average price is $171.19 and its 200-day moving average price is $175.18.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock worth $36,330,928 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group restated a “buy” rating on shares of Alphabet in a report on Wednesday. Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday. Finally, KeyCorp reduced their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $206.80.

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.