Rice Partnership LLC Has $14.68 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Rice Partnership LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 80,568 shares of the information services provider’s stock after purchasing an additional 1,326 shares during the quarter. Alphabet makes up 3.2% of Rice Partnership LLC’s investment portfolio, making the stock its 9th largest position. Rice Partnership LLC’s holdings in Alphabet were worth $14,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. DDD Partners LLC boosted its holdings in shares of Alphabet by 3.3% during the 2nd quarter. DDD Partners LLC now owns 3,544 shares of the information services provider’s stock worth $646,000 after buying an additional 112 shares during the period. Resonant Capital Advisors LLC raised its stake in Alphabet by 12.4% during the 2nd quarter. Resonant Capital Advisors LLC now owns 26,466 shares of the information services provider’s stock valued at $4,821,000 after purchasing an additional 2,919 shares during the last quarter. Mechanics Financial Corp raised its stake in shares of Alphabet by 0.9% in the 2nd quarter. Mechanics Financial Corp now owns 21,943 shares of the information services provider’s stock valued at $3,997,000 after buying an additional 195 shares in the last quarter. Two Point Capital Management Inc. increased its position in shares of Alphabet by 0.5% during the 2nd quarter. Two Point Capital Management Inc. now owns 94,530 shares of the information services provider’s stock worth $17,220,000 after purchasing an additional 444 shares in the last quarter. Finally, Consilium Wealth Advisory LLC boosted its stake in Alphabet by 1.4% in the second quarter. Consilium Wealth Advisory LLC now owns 23,198 shares of the information services provider’s stock worth $4,225,000 after purchasing an additional 323 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,367 shares of company stock valued at $30,016,931. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. JMP Securities restated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Tuesday, July 30th. Morgan Stanley cut their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Wolfe Research initiated coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Piper Sandler lowered their price objective on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Guggenheim lifted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Up 1.8 %

GOOGL opened at $157.46 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50-day moving average is $167.46 and its 200 day moving average is $164.67. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Research analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 12.27%.

Alphabet 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.