Alphabet Inc. $GOOGL Shares Sold by RFP Financial Group LLC

RFP Financial Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 66.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 981 shares of the information services provider’s stock after selling 1,913 shares during the period. RFP Financial Group LLC’s holdings in Alphabet were worth $307,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Sands Capital Management LLC increased its position in Alphabet by 3.5% in the fourth quarter. Sands Capital Management LLC now owns 4,939,049 shares of the information services provider’s stock worth $1,545,922,000 after buying an additional 167,952 shares during the period. Scge Management L.P. acquired a new stake in Alphabet in the fourth quarter worth $501,739,000. Sargent Investment Group LLC increased its position in Alphabet by 4.7% in the fourth quarter. Sargent Investment Group LLC now owns 58,121 shares of the information services provider’s stock worth $18,192,000 after buying an additional 2,583 shares during the period. Saber Capital Managment LLC acquired a new stake in Alphabet in the fourth quarter worth $3,179,000. Finally, MLP3 LLC acquired a new stake in Alphabet in the fourth quarter worth $455,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 2.7%

Shares of GOOGL stock opened at $369.35 on Tuesday. The stock has a 50-day simple moving average of $361.93 and a 200 day simple moving average of $330.66. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The stock has a market capitalization of $4.48 trillion, a P/E ratio of 28.17, a P/E/G ratio of 1.54 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. On average, sell-side analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 191,966 shares of company stock valued at $16,963,968. Corporate insiders own 11.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Monday, May 4th. China Renaissance raised their price target on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a report on Monday, May 4th. Daiwa Securities Group raised their price target on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Bank of America raised their price target on Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Cantor Fitzgerald raised their price target on Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway’s Greg Abel Just Made a Big Bet on Who Will Win the AI Races

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.