Alphabet Inc. (NASDAQ:GOOGL) is RBA Wealth Management LLC’s 4th Largest Position

RBA Wealth Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,166 shares of the information services provider’s stock after selling 2,195 shares during the period. Alphabet makes up about 3.4% of RBA Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding. RBA Wealth Management LLC’s holdings in Alphabet were worth $8,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. Shayne & Jacobs LLC raised its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Shayne & Jacobs LLC now owns 27,587 shares of the information services provider’s stock valued at $5,025,000 after buying an additional 170 shares during the period. Chesley Taft & Associates LLC grew its position in Alphabet by 1.0% in the second quarter. Chesley Taft & Associates LLC now owns 122,314 shares of the information services provider’s stock valued at $22,279,000 after acquiring an additional 1,254 shares in the last quarter. Chapin Davis Inc. lifted its position in shares of Alphabet by 3.5% during the second quarter. Chapin Davis Inc. now owns 41,254 shares of the information services provider’s stock worth $7,515,000 after purchasing an additional 1,409 shares in the last quarter. Sarasin & Partners LLP boosted its stake in shares of Alphabet by 1.6% in the second quarter. Sarasin & Partners LLP now owns 4,090,986 shares of the information services provider’s stock valued at $745,173,000 after purchasing an additional 65,826 shares during the period. Finally, Financial Partners Group Inc grew its holdings in Alphabet by 1.2% during the 2nd quarter. Financial Partners Group Inc now owns 52,848 shares of the information services provider’s stock valued at $9,626,000 after purchasing an additional 641 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders sold 156,565 shares of company stock worth $26,823,893 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Tigress Financial increased their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. UBS Group raised their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company upped their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Stock Performance

Shares of GOOGL stock opened at $165.62 on Friday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The business has a 50 day simple moving average of $174.73 and a 200 day simple moving average of $163.18.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business earned $1.44 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 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.