Sage Rhino Capital LLC Buys 1,808 Shares of Alphabet Inc. $GOOG

Key Points

• Sage Rhino Capital LLC increased its stake in Alphabet Inc. by 9.4%, owning a total of 21,029 shares worth approximately $3.73 million after acquiring an additional 1,808 shares in the second quarter.
• Multiple institutional investors, including ACT Advisors and LongView Wealth Management, also raised their positions in Alphabet during the same quarter, showcasing increasing institutional confidence in the stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, resulting in an annual yield of 0.3% and indicating a payout ratio of 8.95%.

Sage Rhino Capital LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,029 shares of the information services provider's stock after buying an additional 1,808 shares during the period. Sage Rhino Capital LLC's holdings in Alphabet were worth $3,730,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. ACT Advisors LLC. increased its stake in shares of Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider's stock valued at $288,000 after purchasing an additional 55 shares in the last quarter. LongView Wealth Management increased its stake in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider's stock valued at $909,000 after purchasing an additional 56 shares in the last quarter. Kooman & Associates increased its stake in shares of Alphabet by 1.4% during the second quarter. Kooman & Associates now owns 4,127 shares of the information services provider's stock valued at $732,000 after purchasing an additional 56 shares in the last quarter. Colton Groome Financial Advisors LLC increased its stake in shares of Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider's stock valued at $309,000 after purchasing an additional 57 shares in the last quarter. Finally, NCM Capital Management LLC increased its stake in shares of Alphabet by 2.2% during the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock valued at $438,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on GOOG shares. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank increased their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Pivotal Research increased their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $230.35.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet 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 $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 257,866 shares of company stock worth $52,363,610 in the last 90 days. Insiders own 12.99% of the company's stock.

Alphabet Trading Down 1.1%

NASDAQ:GOOG opened at $244.36 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70. The company has a market cap of $2.96 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company has a 50 day simple moving average of $217.67 and a two-hundred day simple moving average of $185.06.

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

Alphabet Dividend Announcement

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

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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