RWA Wealth Partners LLC Has $22.07 Million Stake in Alphabet Inc. $GOOG

Key Points

• RWA Wealth Partners LLC reduced its stake in Alphabet Inc. by 12.5%, owning 141,284 shares valued at approximately $22.07 million after selling 20,274 shares in the first quarter.
• Alphabet has a recent market cap of $2.48 trillion and reported earnings per share of $2.31, exceeding estimates and achieving a 13.8% year-over-year revenue growth.
• The company will pay a $0.21 quarterly dividend on September 15th, with an annualized payout amounting to $0.84 and a yield of 0.4%.

RWA Wealth Partners LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,284 shares of the information services provider's stock after selling 20,274 shares during the quarter. RWA Wealth Partners LLC's holdings in Alphabet were worth $22,073,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Sand Hill Global Advisors LLC raised its position in Alphabet by 26.4% in the 1st quarter. Sand Hill Global Advisors LLC now owns 23,013 shares of the information services provider's stock valued at $3,595,000 after buying an additional 4,806 shares during the last quarter. Aptus Capital Advisors LLC raised its position in Alphabet by 7.2% in the 1st quarter. Aptus Capital Advisors LLC now owns 487,894 shares of the information services provider's stock valued at $76,224,000 after buying an additional 32,608 shares during the last quarter. Watts Gwilliam & Co. LLC raised its position in Alphabet by 13.7% in the 1st quarter. Watts Gwilliam & Co. LLC now owns 45,271 shares of the information services provider's stock valued at $7,073,000 after buying an additional 5,441 shares during the last quarter. Aviso Financial Inc. raised its position in Alphabet by 3.0% in the 1st quarter. Aviso Financial Inc. now owns 364,185 shares of the information services provider's stock valued at $56,897,000 after buying an additional 10,634 shares during the last quarter. Finally, Granite Harbor Advisors Inc. purchased a new stake in Alphabet in the 1st quarter valued at $336,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Scotiabank increased their price target on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Stock Performance

NASDAQ:GOOG opened at $204.91 on Monday. The business's 50-day moving average price is $185.21 and its two-hundred day moving average price is $174.52. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock has a market cap of $2.48 trillion, a P/E ratio of 21.82, a PEG ratio of 1.38 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The company's revenue was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,819 shares of company stock valued at $49,796,547. Corporate 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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