RFG Holdings Inc. Purchases New Stake in Alphabet Inc. (NASDAQ:GOOGL)

RFG Holdings Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,487 shares of the information services provider’s stock, valued at approximately $224,000.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet in the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $38,000. Meritage Group LP boosted its position in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Armor Investment Advisors LLC grew its stake in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares during the last quarter. Finally, IAG Wealth Partners LLC raised its stake in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after buying an additional 123 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GOOGL shares. Argus boosted their target price on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Rosenblatt Securities upped their price target on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday, April 26th. Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Roth Mkm upped their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Five equities research 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. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $193.69.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred 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 approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.41 on Friday. The stock has a market capitalization of $2.29 trillion, a PE ratio of 28.44, a P/E/G ratio of 1.38 and a beta of 1.01. The business has a 50 day simple moving average of $171.70 and a two-hundred day simple moving average of $153.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business posted $1.17 EPS. On average, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

About Alphabet

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.