RB Capital Management LLC Raises Position in Alphabet Inc. $GOOGL

Key Points

• RB Capital Management LLC increased its stake in Alphabet Inc. by 4.0%, owning a total of 34,742 shares valued at approximately $6.12 million.
• Alphabet recently reported an EPS of $2.31 for the quarter, exceeding estimates, with a net revenue of $96.43 billion.
• The company declared a quarterly dividend of $0.21, yielding 0.3%, with the payout ratio at 8.95%.

RB Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,742 shares of the information services provider's stock after buying an additional 1,351 shares during the period. Alphabet makes up about 1.4% of RB Capital Management LLC's investment portfolio, making the stock its 16th largest holding. RB Capital Management LLC's holdings in Alphabet were worth $6,123,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. grew its stake in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after acquiring an additional 593,345 shares during the period. Deutsche Bank AG grew its stake in shares of Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after acquiring an additional 727,335 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after acquiring an additional 104,859 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $240.80 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $242.25. The firm's 50 day simple moving average is $201.89 and its two-hundred day simple moving average is $177.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GOOGL shares. Piper Sandler lifted their price target on shares of Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC lifted their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. KeyCorp boosted their target price on shares of Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Barclays boosted their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $221.44.

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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