Rinkey Investments Purchases 480 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Rinkey Investments boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,655 shares of the information services provider’s stock after acquiring an additional 480 shares during the quarter. Rinkey Investments’ holdings in Alphabet were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Principal Financial Group Inc. increased its stake in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares during the period. Passumpsic Savings Bank boosted its stake in shares of Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock valued at $779,000 after purchasing an additional 1,294 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in shares of Alphabet by 0.5% during the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock worth $6,199,000 after buying an additional 202 shares during the period. SkyView Investment Advisors LLC increased its position in shares of Alphabet by 6.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock worth $382,000 after buying an additional 130 shares during the period. Finally, Te Ahumairangi Investment Management Ltd raised its stake in Alphabet by 19.2% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock worth $22,703,000 after buying an additional 22,169 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock worth $25,361,647 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.7 %

Shares of GOOGL opened at $161.96 on Friday. The firm has a market cap of $1.97 trillion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business has a 50-day moving average of $162.18 and a 200 day moving average of $175.43.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.94%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Wells Fargo & Company raised their target price on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday. Morgan Stanley dropped their price target on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. DA Davidson cut their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Piper Sandler lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $199.03.

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.