Rockline Wealth Management LLC Has $7.85 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Rockline Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 49.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,768 shares of the information services provider’s stock after purchasing an additional 14,220 shares during the period. Alphabet accounts for 2.4% of Rockline Wealth Management LLC’s holdings, making the stock its 6th biggest holding. Rockline Wealth Management LLC’s holdings in Alphabet were worth $7,845,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GOOG. Capital International Investors lifted its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after buying an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after acquiring an additional 13,876,534 shares in the last quarter. Capital World Investors lifted its position in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after acquiring an additional 979,083 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after acquiring an additional 684,968 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet in the fourth quarter worth $4,101,040,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,565 shares of company stock valued at $27,043,340. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alphabet Stock Down 0.5 %

Shares of GOOG stock opened at $157.81 on Thursday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market capitalization of $1.95 trillion, a PE ratio of 24.20, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50-day simple moving average is $173.69 and its 200-day simple moving average is $165.59.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the company earned $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s payout ratio 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.