RKL Wealth Management LLC Has $888,000 Stake in Alphabet Inc. $GOOG

RKL Wealth Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 2nd quarter, Holdings Channel reports. The firm owned 5,005 shares of the information services provider’s stock after selling 213 shares during the period. RKL Wealth Management LLC’s holdings in Alphabet were worth $888,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the first quarter valued at approximately $26,000. Robbins Farley raised its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Alphabet during the first quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.0%

Alphabet stock opened at $246.45 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The firm has a 50 day moving average price of $221.89 and a 200-day moving average price of $187.01. The company has a market capitalization of $2.98 trillion, a P/E ratio of 26.25, a P/E/G ratio of 1.66 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock valued at $59,135,475. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GOOG. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a research report on Monday, September 29th. KeyCorp set a $265.00 price target on shares of Alphabet in a research report on Wednesday, September 3rd. Piper Sandler reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Five analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.33.

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.