RB Capital Management LLC Has $8.31 Million Position in Alphabet Inc. (NASDAQ:GOOG)

RB Capital Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the fourth quarter, Holdings Channel reports. The fund owned 58,984 shares of the information services provider’s stock after selling 4,000 shares during the quarter. Alphabet accounts for 2.4% of RB Capital Management LLC’s portfolio, making the stock its 7th largest holding. RB Capital Management LLC’s holdings in Alphabet were worth $8,313,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOG. FMR LLC lifted its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the period. Northern Trust Corp lifted its holdings in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares during the period. Sanders Capital LLC lifted its holdings in Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after buying an additional 92,741 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Alphabet by 2.0% during the 3rd quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock worth $2,613,557,000 after buying an additional 390,118 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.7 %

Shares of GOOG stock opened at $168.46 on Friday. The company’s fifty day simple moving average is $150.99 and its two-hundred day simple moving average is $143.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. Alphabet Inc. has a 1 year low of $104.70 and a 1 year high of $176.42. The stock has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.23 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.17 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock valued at $40,382,765 over the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $165.67.

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.