RHS Financial LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

RHS Financial LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,240 shares of the information services provider's stock, valued at approximately $236,000.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 0.3% during the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock valued at $17,247,208,000 after acquiring an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares in the last quarter. Jennison Associates LLC grew its stake in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOG. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Friday, January 24th. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Citigroup raised their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.

Alphabet Price Performance

Shares of Alphabet stock opened at $207.71 on Wednesday. The company's fifty day simple moving average is $191.14 and its two-hundred day simple moving average is $175.71. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The firm has a market cap of $2.54 trillion, a PE ratio of 27.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00. The company has a quick ratio of 1.95, a current 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, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. As a group, equities analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,029 shares of company stock valued at $18,462,883. Company insiders own 12.99% of the company's stock.

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.

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