RPg Family Wealth Advisory LLC Makes New $237,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

RPg Family Wealth Advisory LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,415 shares of the information services provider’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Swedbank AB purchased a new position in Alphabet in the first quarter worth about $1,378,708,000. FMR LLC boosted its holdings in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after buying an additional 2,500,621 shares during the last quarter. Vima LLC increased its holdings in Alphabet by 178,253.1% during the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after buying an additional 2,000,000 shares during the last quarter. Finally, Granite Bay Wealth Management LLC raised its position in Alphabet by 6,610.0% in the second quarter. Granite Bay Wealth Management LLC now owns 1,769,160 shares of the information services provider’s stock worth $301,312,000 after acquiring an additional 1,742,794 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $170.62 on Wednesday. The firm’s fifty day moving average is $169.51 and its two-hundred day moving average is $171.86. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a market cap of $2.09 trillion, a P/E ratio of 22.63, a P/E/G ratio of 1.18 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOG. JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer increased their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.