RDA Financial Network Has $7.03 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

RDA Financial Network boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,560 shares of the information services provider’s stock after purchasing an additional 1,062 shares during the period. Alphabet comprises approximately 2.4% of RDA Financial Network’s investment portfolio, making the stock its 5th biggest position. RDA Financial Network’s holdings in Alphabet were worth $7,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $38,000. Meritage Group LP increased its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Armor Investment Advisors LLC increased its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC increased its holdings in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Jefferies Financial Group increased their price objective on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. UBS Group increased their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Evercore ISI increased their price target on Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Loop Capital increased their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Wolfe Research increased their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.26.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold a total of 158,458 shares of company stock worth $26,375,053 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.0 %

NASDAQ:GOOGL opened at $179.71 on Monday. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company’s 50-day simple moving average is $170.05 and its 200 day simple moving average is $152.72. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.