RMR Wealth Builders Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

RMR Wealth Builders increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,033 shares of the information services provider’s stock after acquiring an additional 1,988 shares during the period. RMR Wealth Builders’ holdings in Alphabet were worth $3,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Elevated Capital Advisors LLC boosted its stake in shares of Alphabet by 4.0% in the first quarter. Elevated Capital Advisors LLC now owns 15,470 shares of the information services provider’s stock valued at $2,355,000 after purchasing an additional 589 shares during the period. Ehrlich Financial Group acquired a new stake in Alphabet during the 1st quarter worth approximately $202,000. Chemistry Wealth Management LLC lifted its holdings in Alphabet by 0.4% during the 1st quarter. Chemistry Wealth Management LLC now owns 102,602 shares of the information services provider’s stock worth $15,622,000 after buying an additional 387 shares in the last quarter. Lpwm LLC grew its stake in shares of Alphabet by 3.4% in the first quarter. Lpwm LLC now owns 3,084 shares of the information services provider’s stock worth $486,000 after acquiring an additional 100 shares in the last quarter. Finally, IAM Advisory LLC raised its stake in shares of Alphabet by 4.2% in the first quarter. IAM Advisory LLC now owns 3,893 shares of the information services provider’s stock valued at $593,000 after acquiring an additional 158 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,284 shares of company stock worth $24,534,393. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $165.67.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $186.86 on Friday. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.50. The firm has a market capitalization of $2.31 trillion, a P/E ratio of 28.66, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company’s fifty day moving average price is $173.26 and its 200 day moving average price is $154.97.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

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.