Resources Management Corp CT ADV Purchases 3,094 Shares of Alphabet Inc. $GOOGL

Key Points

• Resources Management Corp CT ADV increased its position in Alphabet Inc. by 4.0% in the first quarter, acquiring an additional 3,094 shares, bringing its total holdings to 80,565 shares valued at approximately $12.46 million.
• Insider transactions indicate significant selling activity, with Director Kavitark Ram Shriram and CEO Sundar Pichai selling 15,000 and 32,500 shares, respectively, resulting in a decrease in their stock positions.
• Alphabet has received multiple analyst upgrades, with target prices ranging from $220.00 to $270.00 and a current average rating of "Moderate Buy".

Resources Management Corp CT ADV raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,565 shares of the information services provider's stock after buying an additional 3,094 shares during the quarter. Alphabet makes up approximately 1.8% of Resources Management Corp CT ADV's holdings, making the stock its 13th largest holding. Resources Management Corp CT ADV's holdings in Alphabet were worth $12,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Nia Impact Advisors LLC raised its stake in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares during the period. Enzi Wealth raised its stake in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after buying an additional 62 shares during the period. Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares during the period. Aspire Capital Advisors LLC raised its stake in Alphabet by 1.0% in the first quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock valued at $1,086,000 after buying an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. raised its stake in Alphabet by 2.1% in the first quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock valued at $496,000 after buying an additional 67 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.0%

Shares of GOOGL stock traded up $2.29 during mid-day trading on Tuesday, hitting $236.33. The company's stock had a trading volume of 6,857,260 shares, compared to its average volume of 36,606,133. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $238.13. The company has a market cap of $2.86 trillion, a PE ratio of 25.12, a P/E/G ratio of 1.58 and a beta of 1.01. The company's fifty day simple moving average is $196.95 and its 200-day simple moving average is $175.73. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's dividend payout ratio is currently 8.95%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,710 shares of company stock valued at $49,208,380. Insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Citigroup reiterated an "outperform" rating on shares of Alphabet in a research note on Wednesday, September 3rd. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Sanford C. Bernstein increased their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, JMP Securities raised their target price on Alphabet from $225.00 to $250.00 and gave the stock a "market outperform" rating in a research report on Wednesday, September 3rd. Three investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.