RDA Financial Network Acquires 2,026 Shares of Alphabet Inc. (NASDAQ:GOOGL)

RDA Financial Network lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,821 shares of the information services provider's stock after purchasing an additional 2,026 shares during the quarter. Alphabet accounts for 2.4% of RDA Financial Network's holdings, making the stock its 7th largest position. RDA Financial Network's holdings in Alphabet were worth $8,014,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth $30,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter valued at $39,000. PayPay Securities Corp raised its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet during the 4th quarter worth $49,000. Finally, Navigoe LLC acquired a new stake in Alphabet in the fourth quarter valued at about $51,000. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOGL. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. KeyCorp lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. DA Davidson dropped their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.75.

Alphabet Stock Performance

GOOGL stock opened at $173.68 on Friday. The firm has a market cap of $2.11 trillion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $160.14 and a 200-day moving average price of $174.34. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the company posted $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock worth $32,036,638 in the last quarter. Company insiders own 11.64% 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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.