RMR Wealth Builders Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

RMR Wealth Builders reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,045 shares of the information services provider’s stock after selling 240 shares during the period. RMR Wealth Builders’ holdings in Alphabet were worth $2,543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. FMR LLC boosted its stake in shares of Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. Northern Trust Corp raised its stake in Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after purchasing an additional 481,376 shares during the period. Finally, Sanders Capital LLC lifted its stake in shares of Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after acquiring an additional 92,741 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Up 0.1 %

GOOG stock opened at $171.26 on Thursday. The company has a fifty day moving average of $152.74 and a 200-day moving average of $144.21. Alphabet Inc. has a one year low of $108.48 and a one year high of $176.42. The stock has a market capitalization of $2.12 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the prior year, the business earned $1.17 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 252,629 shares of company stock worth $37,091,240 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.