Rappaport Reiches Capital Management LLC Purchases 166 Shares of Alphabet Inc. (NASDAQ:GOOG)

Rappaport Reiches Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 14,226 shares of the information services provider’s stock after acquiring an additional 166 shares during the period. Alphabet accounts for approximately 0.6% of Rappaport Reiches Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Rappaport Reiches Capital Management LLC’s holdings in Alphabet were worth $2,379,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Baird Financial Group Inc. increased its holdings in Alphabet by 2.1% in the fourth quarter. Baird Financial Group Inc. now owns 5,700,669 shares of the information services provider’s stock valued at $803,395,000 after purchasing an additional 119,370 shares during the period. Buckingham Strategic Wealth LLC increased its holdings in Alphabet by 1.9% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 236,162 shares of the information services provider’s stock valued at $33,282,000 after purchasing an additional 4,455 shares during the period. Buckingham Strategic Partners LLC increased its holdings in Alphabet by 12.0% in the fourth quarter. Buckingham Strategic Partners LLC now owns 19,581 shares of the information services provider’s stock valued at $2,760,000 after purchasing an additional 2,095 shares during the period. Gallagher Fiduciary Advisors LLC increased its holdings in Alphabet by 128.8% in the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 7,604 shares of the information services provider’s stock valued at $1,072,000 after purchasing an additional 4,280 shares during the period. Finally, Groupama Asset Managment acquired a new stake in Alphabet in the fourth quarter valued at $25,790,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $163.18 on Friday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market cap of $2.01 trillion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm’s 50-day simple moving average is $162.89 and its 200 day simple moving average is $169.03.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 11.48%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Oppenheimer decreased their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 price target for the company. UBS Group decreased their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday. Finally, Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’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 transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,092 shares of company stock worth $35,644,136 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet 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.