RWA Wealth Partners LLC Buys 552 Shares of Alphabet Inc. $GOOG

RWA Wealth Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,836 shares of the information services provider’s stock after acquiring an additional 552 shares during the quarter. RWA Wealth Partners LLC’s holdings in Alphabet were worth $25,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after buying an additional 135,064,454 shares during the last quarter. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter valued at $2,622,943,000. Vanguard Group Inc. lifted its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Finally, Strs Ohio bought a new position in Alphabet in the first quarter valued at about $369,713,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 2.0%

Alphabet stock opened at $279.70 on Monday. The firm has a market capitalization of $3.38 trillion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.86 and a beta of 1.05. The company’s 50 day simple moving average is $251.81 and its 200 day simple moving average is $205.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the transaction, the chief executive officer owned 2,337,119 shares of the company’s stock, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,396 shares of company stock worth $54,105,275 in the last three months. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, September 8th. Piper Sandler raised their price objective on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.