REDW Wealth LLC Sells 200 Shares of Alphabet Inc. (NASDAQ:GOOGL)

REDW Wealth LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,174 shares of the information services provider’s stock after selling 200 shares during the quarter. REDW Wealth LLC’s holdings in Alphabet were worth $862,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GOOGL. Vanguard Group Inc. lifted its stake in shares of Alphabet by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after purchasing an additional 1,302,104 shares during the period. FMR LLC lifted its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the period. State Street Corp boosted its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Alphabet by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after acquiring an additional 1,499,107 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Citigroup reissued a “buy” rating and set a $168.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. BMO Capital Markets reiterated an “outperform” rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Finally, Redburn Atlantic increased their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.61.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,033,907 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.8 %

GOOGL stock opened at $154.86 on Tuesday. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.93 trillion, a PE ratio of 26.70, a PEG ratio of 1.46 and a beta of 1.05. The business’s 50 day simple moving average is $145.55 and its 200 day simple moving average is $140.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the company earned $1.05 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

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.