RFG Holdings Inc. Purchases 1,139 Shares of Alphabet Inc. (NASDAQ:GOOG)

RFG Holdings Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,110 shares of the information services provider’s stock after purchasing an additional 1,139 shares during the quarter. RFG Holdings Inc.’s holdings in Alphabet were worth $956,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at $5,166,070,000. GAMMA Investing LLC increased its position in shares of Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $1,551,533,000. Northern Trust Corp increased its holdings in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC increased its holdings in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOG. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. UBS Group decreased their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Stock Down 1.0%

Shares of GOOG opened at $176.97 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm’s 50 day moving average is $163.98 and its 200-day moving average is $176.27. The stock has a market capitalization of $2.15 trillion, a PE ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock valued at $32,003,532 over the last three months. 12.99% of the stock is owned by 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.