Alphabet Inc. $GOOG Holdings Raised by RFG Advisory LLC

Key Points

• RFG Advisory LLC increased its stake in Alphabet Inc. by 12.4% during the 2nd quarter, with holdings valued at approximately $6 million, reflecting confidence in the company's performance.
• Alphabet reported earnings of $2.31 EPS for the last quarter, exceeding analyst expectations of $2.12 and showcasing a revenue increase of 13.8% year-over-year.
• The company recently announced a quarterly dividend of $0.21 per share, representing a 0.3% dividend yield and a payout ratio of 8.95%.

RFG Advisory LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,886 shares of the information services provider's stock after purchasing an additional 3,728 shares during the period. RFG Advisory LLC's holdings in Alphabet were worth $6,011,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its stake 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 worth $23,963,208,000 after acquiring an additional 135,064,454 shares in the last quarter. Nuveen LLC purchased a new stake in Alphabet in the 1st quarter worth about $2,622,943,000. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Alphabet in the 1st quarter worth about $369,713,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $253.79 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.07 trillion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 1.70 and a beta of 1.00. The business's 50-day simple moving average is $232.18 and its 200-day simple moving average is $192.73. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.58.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Mizuho raised Alphabet to a "strong-buy" rating in a research note on Monday, September 29th. JPMorgan Chase & Co. raised their price target on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $244.68.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,372 shares of company stock worth $55,110,740. 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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