RPG Investment Advisory LLC Has $29.19 Million Stock Holdings in Alphabet Inc. $GOOG

RPG Investment Advisory LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 50.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 164,561 shares of the information services provider’s stock after selling 164,525 shares during the quarter. Alphabet makes up 3.6% of RPG Investment Advisory LLC’s portfolio, making the stock its 4th biggest position. RPG Investment Advisory LLC’s holdings in Alphabet were worth $29,191,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOG. Vanguard Group Inc. lifted its position in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after acquiring an additional 5,182,111 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% in the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after purchasing an additional 441,177 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Sanders Capital LLC boosted its holdings in shares of Alphabet by 6.4% in the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after buying an additional 2,117,990 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 6.3%

GOOG opened at $318.47 on Tuesday. The business’s fifty day simple moving average is $264.32 and its 200 day simple moving average is $215.82. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $319.80. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.84 trillion, a PE ratio of 31.41, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 227,952 shares of company stock worth $58,896,009 in the last 90 days. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $330.00 target price on shares of Alphabet in a research note on Thursday, October 30th. Bank of America upped their price target on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $260.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. KeyCorp reiterated an “overweight” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Finally, Jefferies Financial Group increased their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $324.81.

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.