RDA Financial Network Has $1.28 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

RDA Financial Network grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,654 shares of the information services provider’s stock after purchasing an additional 625 shares during the quarter. RDA Financial Network’s holdings in Alphabet were worth $1,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Swedbank AB raised its position in shares of Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after acquiring an additional 51,226 shares during the period. Zhang Financial LLC raised its holdings in Alphabet by 1.0% in the third quarter. Zhang Financial LLC now owns 13,583 shares of the information services provider’s stock worth $2,271,000 after purchasing an additional 129 shares during the period. Hayek Kallen Investment Management raised its holdings in Alphabet by 5.3% in the third quarter. Hayek Kallen Investment Management now owns 1,990 shares of the information services provider’s stock worth $333,000 after purchasing an additional 100 shares during the period. Birch Capital Management LLC boosted its position in shares of Alphabet by 1.8% during the third quarter. Birch Capital Management LLC now owns 31,132 shares of the information services provider’s stock worth $5,205,000 after purchasing an additional 564 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. grew its holdings in shares of Alphabet by 1.0% in the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 26,172 shares of the information services provider’s stock valued at $4,412,000 after buying an additional 266 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GOOG. Pivotal Research started coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price on the stock. UBS Group decreased their price objective on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Finally, Scotiabank initiated coverage on shares of Alphabet in a research report on Friday. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $186.90.

Alphabet Stock Up 0.2 %

NASDAQ:GOOG traded up $0.41 on Tuesday, hitting $166.76. 10,063,576 shares of the company’s stock were exchanged, compared to its average volume of 19,689,594. The firm has a 50-day moving average price of $162.92 and a 200-day moving average price of $169.47. Alphabet Inc. has a 52 week low of $121.46 and a 52 week high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.06 trillion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.44 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total transaction of $3,759,075.00. Following the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock valued at $35,644,136 in the last quarter. Company insiders own 12.99% of the company’s stock.

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.