Rowlandmiller & PARTNERS.ADV Has $15.68 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Rowlandmiller & PARTNERS.ADV has increased its holdings in Alphabet Inc. by 3.6%, now owning 88,405 shares worth approximately $15.68 million, making it their 6th largest holding.
• Insider sales have been noted, with John Kent Walker selling 23,820 shares for about $4.64 million, reducing his stake by 35.65%, and another director selling a smaller amount as well.
• Several analysts forecast positive growth for Alphabet, with target prices ranging from $220.00 to $270.00, while the stock currently trades around $241.38 per share.

Rowlandmiller & PARTNERS.ADV raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 88,405 shares of the information services provider's stock after purchasing an additional 3,055 shares during the period. Alphabet accounts for approximately 3.2% of Rowlandmiller & PARTNERS.ADV's holdings, making the stock its 6th biggest holding. Rowlandmiller & PARTNERS.ADV's holdings in Alphabet were worth $15,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Alphabet in the 1st quarter worth about $31,698,000. Swedbank AB increased its position in shares of Alphabet by 12.2% in the 1st quarter. Swedbank AB now owns 9,519,121 shares of the information services provider's stock worth $1,487,172,000 after purchasing an additional 1,036,051 shares during the last quarter. Maple Capital Management Inc. increased its position in shares of Alphabet by 0.9% in the 1st quarter. Maple Capital Management Inc. now owns 404,522 shares of the information services provider's stock worth $63,199,000 after purchasing an additional 3,649 shares during the last quarter. Sheets Smith Investment Management increased its position in shares of Alphabet by 1.6% in the 1st quarter. Sheets Smith Investment Management now owns 7,760 shares of the information services provider's stock worth $1,212,000 after purchasing an additional 120 shares during the last quarter. Finally, eCIO Inc. bought a new stake in shares of Alphabet in the 1st quarter worth about $426,000. Institutional investors own 27.26% of the company's stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. Oppenheimer reissued an "outperform" rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Alphabet Trading Up 0.2%

Alphabet stock opened at $241.38 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $202.67 and a two-hundred day moving average price of $178.83. The firm has a market capitalization of $2.92 trillion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $242.57.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.

About Alphabet

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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