RB Capital Management LLC Trims Stock Holdings in Alphabet Inc. $GOOG

RB Capital Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,529 shares of the information services provider’s stock after selling 130 shares during the period. Alphabet comprises 2.2% of RB Capital Management LLC’s portfolio, making the stock its 12th largest position. RB Capital Management LLC’s holdings in Alphabet were worth $9,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. ARQ Wealth Advisors LLC raised its stake in Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after buying an additional 1,400 shares in the last quarter. Independence Bank of Kentucky raised its stake in Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after buying an additional 1,376 shares in the last quarter. Fermata Advisors LLC raised its stake in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after buying an additional 259 shares in the last quarter. jvl associates llc raised its stake in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock valued at $1,571,000 after buying an additional 343 shares in the last quarter. Finally, Members Trust Co raised its stake in Alphabet by 84.7% during the first quarter. Members Trust Co now owns 4,999 shares of the information services provider’s stock valued at $781,000 after buying an additional 2,292 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.2%

Shares of Alphabet stock opened at $241.38 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $242.57. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. The business’s 50 day simple moving average is $202.67 and its 200-day simple moving average is $178.86.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period last year, the firm earned $1.89 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several analysts have issued reports on GOOG shares. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities cut Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $227.56.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last quarter. 12.99% of the stock is owned by insiders.

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.