RDA Financial Network Purchases 2,088 Shares of Alphabet Inc. (NASDAQ:GOOG)

RDA Financial Network grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,742 shares of the information services provider's stock after acquiring an additional 2,088 shares during the quarter. RDA Financial Network's holdings in Alphabet were worth $1,855,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. M&G PLC purchased a new position in Alphabet during the third quarter worth about $2,240,000. Coldstream Capital Management Inc. increased its holdings in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Stevens Capital Management LP lifted its holdings in Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock valued at $15,254,000 after acquiring an additional 57,810 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in Alphabet by 10.2% in the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider's stock worth $10,624,000 after acquiring an additional 5,892 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Jefferies Financial Group lifted their target price on Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Finally, Oppenheimer lifted their price objective on Alphabet from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $200.56.

Alphabet Stock Up 1.6 %

GOOG stock traded up $3.14 during midday trading on Friday, reaching $197.55. The company had a trading volume of 21,974,853 shares, compared to its average volume of 16,381,408. The company has a 50 day moving average of $185.92 and a two-hundred day moving average of $174.85. The company has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet's dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by corporate 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.