Richardson Financial Services Inc. Has $1.56 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Richardson Financial Services Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,582 shares of the information services provider’s stock after selling 413 shares during the period. Alphabet comprises about 1.1% of Richardson Financial Services Inc.’s investment portfolio, making the stock its 18th biggest position. Richardson Financial Services Inc.’s holdings in Alphabet were worth $1,563,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in GOOGL. Nebula Research & Development LLC acquired a new position in Alphabet in the fourth quarter valued at about $787,000. New Hampshire Trust boosted its position in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after buying an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP boosted its position in Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares in the last quarter. Finally, American International Group Inc. boosted its position in Alphabet by 11.5% in the fourth quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after buying an additional 200,891 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and issued a $200.00 price target on shares of Alphabet in a research report on Monday. Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. TD Securities boosted their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Pivotal Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.14.

Alphabet Stock Down 0.7 %

Shares of NASDAQ:GOOGL opened at $165.86 on Thursday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.05 trillion, a PE ratio of 25.44, a PEG ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average price of $162.08 and a two-hundred day moving average price of $167.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. Analysts forecast that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is 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.