RPg Family Wealth Advisory LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

RPg Family Wealth Advisory LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 42.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,544 shares of the information services provider’s stock after buying an additional 18,096 shares during the period. Alphabet makes up about 2.9% of RPg Family Wealth Advisory LLC’s investment portfolio, making the stock its 4th biggest position. RPg Family Wealth Advisory LLC’s holdings in Alphabet were worth $10,041,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its holdings in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. raised its holdings in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the period. Finally, PineStone Asset Management Inc. lifted its position in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after purchasing an additional 4,170,229 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.5 %

GOOGL stock opened at $175.37 on Tuesday. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The stock has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $169.70 and its two-hundred day simple moving average is $170.21.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOGL. Piper Sandler restated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. KeyCorp increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI raised their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 4.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 160,789 shares of company stock valued at $27,374,143. Insiders own 11.55% of the company’s stock.

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.