RB Capital Management LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

RB Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 3rd quarter, Holdings Channel reports. The fund owned 57,234 shares of the information services provider’s stock after selling 226 shares during the period. Alphabet makes up 2.2% of RB Capital Management LLC’s portfolio, making the stock its 8th largest holding. RB Capital Management LLC’s holdings in Alphabet were worth $9,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Orion Capital Management LLC boosted its holdings in Alphabet by 0.7% in the third quarter. Orion Capital Management LLC now owns 25,548 shares of the information services provider’s stock worth $4,271,000 after acquiring an additional 175 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after acquiring an additional 259,213 shares in the last quarter. Savoie Capital LLC grew its stake in shares of Alphabet by 11.1% in the 3rd quarter. Savoie Capital LLC now owns 250,520 shares of the information services provider’s stock worth $41,884,000 after acquiring an additional 25,000 shares in the last quarter. Goodman Advisory Group LLC grew its position in Alphabet by 2.3% in the 3rd quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock worth $447,000 after purchasing an additional 61 shares in the last quarter. Finally, Greenwood Gearhart Inc. increased its stake in Alphabet by 8.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 158,741 shares of the information services provider’s stock valued at $26,541,000 after buying an additional 12,858 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given 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 $200.56.

Alphabet Stock Performance

Alphabet stock opened at $177.10 on Tuesday. The stock has a market cap of $2.17 trillion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. The firm’s fifty day moving average price is $171.26 and its 200-day moving average price is $171.73. Alphabet Inc. has a fifty-two week low of $131.06 and a fifty-two week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now owns 28,524 shares of the company’s stock, valued at $4,385,565. This trade represents a 2.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,789 shares of company stock worth $27,374,143 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Company 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.