RFG Holdings Inc. Purchases 1,949 Shares of Alphabet Inc. $GOOG

Key Points

• RFG Holdings Inc. increased its position in Alphabet Inc. by 31.9% during the 2nd quarter, acquiring an additional 1,949 shares for a total of 8,059 shares valued at $1.43 million.
• Alphabet's recent earnings report showed an EPS of $2.31, exceeding analyst estimates, with year-over-year revenue growth of 13.8%.
• The company announced a $0.21 quarterly dividend with a yield of 0.3%, reflecting a low dividend payout ratio of 8.95%.

RFG Holdings Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 31.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,059 shares of the information services provider's stock after purchasing an additional 1,949 shares during the quarter. Alphabet makes up about 0.4% of RFG Holdings Inc.'s portfolio, making the stock its 29th biggest position. RFG Holdings Inc.'s holdings in Alphabet were worth $1,430,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the period. Deutsche Bank AG lifted its holdings in Alphabet by 5.4% during the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock worth $3,334,852,000 after buying an additional 1,098,996 shares during the period. Invesco Ltd. lifted its holdings in Alphabet by 2.2% during the first quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock worth $3,183,979,000 after buying an additional 440,526 shares during the period. Finally, Nuveen LLC purchased a new stake in Alphabet during the first quarter worth $2,622,943,000. Institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Pivotal Research upped their target price on Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Stock Performance

Shares of GOOG opened at $252.33 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $254.14. The stock has a fifty day moving average price of $208.60 and a 200-day moving average price of $181.04. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $3.05 trillion, a PE ratio of 26.87, a P/E/G ratio of 1.68 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during 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 quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction 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 owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,088 shares of company stock worth $52,405,304. 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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