3,893 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Rainey & Randall Wealth Advisors Inc.

Rainey & Randall Wealth Advisors Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,893 shares of the information services provider's stock, valued at approximately $608,000.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after buying an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after buying an additional 1,219,606 shares during the last quarter. Capital International Investors lifted its position in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after buying an additional 5,758,244 shares during the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock worth $7,455,571,000 after buying an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $181.31 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.20 trillion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The company's 50-day moving average price is $171.50 and its two-hundred day moving average price is $174.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOG. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Raymond James Financial reiterated an "outperform" rating on shares of Alphabet in a research note on Wednesday. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $207.13.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares of the company's stock, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,643 shares of company stock worth $36,330,928. Corporate insiders own 12.99% of the company's stock.

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.

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