RFP Financial Group LLC Decreases Stock Position in Alphabet Inc. $GOOGL

Key Points

• RFP Financial Group LLC cut its Alphabet stake sharply in the fourth quarter, reducing its holdings by 66.1% and ending with 981 shares valued at about $307,000.
• Alphabet posted strong quarterly results, with EPS of $5.11 and revenue of $109.90 billion, both ahead of analyst expectations. The company also raised its quarterly dividend to $0.22 per share from $0.21.
• Wall Street remains upbeat on GOOGL, with a consensus “Moderate Buy” rating and an average price target of $413.13, despite recent insider selling and mixed ownership changes among institutions.

RFP Financial Group LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 66.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 981 shares of the information services provider's stock after selling 1,913 shares during the quarter. RFP Financial Group LLC's holdings in Alphabet were worth $307,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the period. Matrix Asset Advisors Inc. NY boosted its holdings in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider's stock worth $685,000 after acquiring an additional 581 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider's stock worth $85,557,000 after acquiring an additional 48,805 shares during the period. Finally, United Bank boosted its holdings in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider's stock worth $8,495,000 after acquiring an additional 3,120 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $369.35 on Tuesday. The stock has a market cap of $4.48 trillion, a P/E ratio of 28.17, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average of $361.93 and a 200-day moving average of $330.66. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, analysts expect that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio is currently 6.71%.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Citizens Jmp restated a "market outperform" rating and issued a $515.00 price target on shares of Alphabet in a report on Wednesday, May 20th. BMO Capital Markets upped their price target on Alphabet from $410.00 to $435.00 and gave the stock an "outperform" rating in a report on Thursday, April 30th. BNP Paribas Exane increased their target price on Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. Oppenheimer increased their target price on Alphabet from $425.00 to $445.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, Daiwa Securities Group increased their target price on Alphabet from $380.00 to $445.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director directly owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 191,966 shares of company stock worth $16,963,968. 11.61% of the stock is owned by insiders.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google’s legal action against an AI-enabled scam network highlights Alphabet’s role in fighting online fraud and may strengthen trust in its security ecosystem. AI Scam Surge Prompts Google to File Lawsuit
• Positive Sentiment: Analysts and market commentary continue to point to Alphabet as a key AI winner, with Gemini, cloud spending, and enterprise demand seen as long-term growth drivers. 3 AI Stocks Poised for Long-Term Gains Despite Strong Year-to-Date Performance
• Positive Sentiment: Berkshire Hathaway’s increased stake in Alphabet adds a high-profile endorsement and suggests long-term confidence in the stock’s AI and platform value. Berkshire Hathaway's Greg Abel Just Made a Big Bet on Who Will Win the AI Races

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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