Frank Rimerman Advisors LLC Has $28.12 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Frank Rimerman Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.5% during the second quarter, Holdings Channel.com reports. The firm owned 153,311 shares of the information services provider’s stock after purchasing an additional 11,998 shares during the period. Alphabet accounts for 2.0% of Frank Rimerman Advisors LLC’s holdings, making the stock its 11th biggest position. Frank Rimerman Advisors LLC’s holdings in Alphabet were worth $28,120,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Twelve Points Wealth Management LLC raised its stake in shares of Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares during the period. PCG Wealth Advisors LLC increased its holdings in Alphabet by 3.1% in the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after acquiring an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its stake in Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 57 shares during the period. Advisors Management Group Inc. ADV lifted its holdings in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after purchasing an additional 58 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The disclosure for this sale can be found here. Insiders have sold 202,667 shares of company stock valued at $33,964,256 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.9 %

Alphabet stock opened at $164.64 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market cap of $2.03 trillion, a P/E ratio of 25.25, a PEG ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average price is $166.26 and its 200-day moving average price is $167.02.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Alphabet Company 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.