RPG Investment Advisory LLC Has $27.49 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

13 Nov 2024, 07:42 by Teresa Graham · The Cerbat Gem

RPG Investment Advisory LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.7% in the third quarter, HoldingsChannel.com reports. The firm owned 164,418 shares of the information services provider’s stock after buying an additional 2,783 shares during the period. Alphabet comprises about 3.9% of RPG Investment Advisory LLC’s investment portfolio, making the stock its 3rd biggest holding. RPG Investment Advisory LLC’s holdings in Alphabet were worth $27,489,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Twelve Points Wealth Management LLC increased its holdings in Alphabet by 0.7% in the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after buying an additional 55 shares in the last quarter. PCG Wealth Advisors LLC increased its holdings in Alphabet by 3.1% in the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after buying an additional 57 shares in the last quarter. Investment Advisory Services Inc. TX ADV increased its holdings in Alphabet by 1.6% in the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock valued at $667,000 after buying an additional 57 shares in the last quarter. Advisors Management Group Inc. ADV increased its holdings in Alphabet by 2.0% in the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after buying an additional 58 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Alphabet by 11.1% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock worth $40,156,829 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $183.32 on Wednesday. Alphabet Inc. has a fifty-two week low of $129.40 and a fifty-two week high of $193.31. The firm’s 50 day moving average price is $165.25 and its 200 day moving average price is $171.44. The company has a market cap of $2.24 trillion, a P/E ratio of 24.31, a PEG ratio of 1.28 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

View Our Latest Analysis on Alphabet

Alphabet Profile

(Free Report)

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.