RFG Advisory LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

RFG Advisory LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,101 shares of the information services provider’s stock after selling 1,720 shares during the period. RFG Advisory LLC’s holdings in Alphabet were worth $4,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. SkyView Investment Advisors LLC grew its position in Alphabet by 11.4% in the second quarter. SkyView Investment Advisors LLC now owns 16,281 shares of the information services provider’s stock worth $2,986,000 after acquiring an additional 1,660 shares in the last quarter. Copperwynd Financial LLC boosted its holdings in shares of Alphabet by 7.4% in the 2nd quarter. Copperwynd Financial LLC now owns 7,200 shares of the information services provider’s stock worth $1,247,000 after purchasing an additional 499 shares during the period. Magnolia Capital Advisors LLC increased its position in shares of Alphabet by 8.6% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 11,195 shares of the information services provider’s stock valued at $2,053,000 after purchasing an additional 884 shares during the last quarter. Nemes Rush Group LLC raised its holdings in Alphabet by 2.3% during the 2nd quarter. Nemes Rush Group LLC now owns 12,999 shares of the information services provider’s stock valued at $2,384,000 after buying an additional 289 shares during the period. Finally, Silver Lake Advisory LLC bought a new stake in Alphabet in the second quarter worth $2,153,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOG shares. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Scotiabank raised their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, UBS Group raised their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.13.

Alphabet Price Performance

Shares of GOOG opened at $201.90 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day moving average price of $187.95 and a 200-day moving average price of $175.21. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The stock has a market capitalization of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. Alphabet’s revenue was up 15.1% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

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.