RPS Advisory Solutions LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

RPS Advisory Solutions LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 5,482 shares of the information services provider’s stock, valued at approximately $1,005,000. Alphabet accounts for approximately 0.9% of RPS Advisory Solutions LLC’s holdings, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Park Avenue Securities LLC raised its stake in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares during the last quarter. Colonial River Wealth Management LLC boosted its holdings in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after acquiring an additional 107 shares during the last quarter. Investment Partners LTD. grew its stake in shares of Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after acquiring an additional 410 shares during the period. Apexium Financial LP raised its holdings in shares of Alphabet by 335.9% during the fourth quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock valued at $7,586,000 after purchasing an additional 41,476 shares during the last quarter. Finally, Oak Ridge Investments LLC lifted its position in Alphabet by 4.6% during the first quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after purchasing an additional 8,201 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares of the company’s stock, valued at $4,838,460. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,065 shares of company stock valued at $31,025,543. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOOG shares. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Finally, TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $182.86.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOG opened at $167.43 on Monday. The company has a 50-day moving average price of $176.34 and a 200 day moving average price of $164.76. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 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.