RDA Financial Network Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

RDA Financial Network grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 49,795 shares of the information services provider’s stock after acquiring an additional 2,186 shares during the period. Alphabet comprises about 2.7% of RDA Financial Network’s portfolio, making the stock its 7th largest holding. RDA Financial Network’s holdings in Alphabet were worth $9,426,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. LMR Partners LLP acquired a new stake in shares of Alphabet during the third quarter worth approximately $32,000. Denver PWM LLC lifted its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Quarry LP bought a new stake in shares of Alphabet during the 2nd quarter worth $53,000. Teachers Insurance & Annuity Association of America bought a new position in Alphabet in the 3rd quarter worth $66,000. Finally, Mendota Financial Group LLC lifted its position in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Roth Mkm raised their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Bank of America reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Needham & Company LLC restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Evercore ISI upped their target price on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $208.15.

Alphabet Price Performance

Alphabet stock opened at $196.00 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The stock has a market cap of $2.40 trillion, a price-to-earnings ratio of 25.99, a P/E/G ratio of 1.22 and a beta of 0.98. The business’s 50-day simple moving average is $184.43 and its 200 day simple moving average is $173.34.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company earned $1.55 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

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.