RDA Financial Network Has $8.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RDA Financial Network raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,821 shares of the information services provider’s stock after acquiring an additional 2,026 shares during the period. Alphabet comprises approximately 2.4% of RDA Financial Network’s investment portfolio, making the stock its 7th largest holding. RDA Financial Network’s holdings in Alphabet were worth $8,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC grew its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. GAMMA Investing LLC increased its stake in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Northern Trust Corp increased its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.3%

GOOGL stock opened at $173.68 on Friday. The company’s 50 day moving average is $160.14 and its 200 day moving average is $174.34. The stock has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the company earned $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director now owns 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last 90 days. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOGL. Needham & Company LLC reissued a “buy” rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Truist Financial cut their price target on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Susquehanna decreased their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. Morgan Stanley lowered their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Jefferies Financial Group cut their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.