Redmont Wealth Advisors LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Redmont Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,639 shares of the information services provider’s stock, valued at approximately $229,000.

Several other institutional investors have also modified their holdings of GOOGL. Meritage Group LP raised its position in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC raised its position in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the period. Armor Investment Advisors LLC raised its position in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $55,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after purchasing an additional 392 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’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 value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 in the last 90 days. 0.88% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. The business has a 50 day moving average price of $147.85 and a 200 day moving average price of $141.42. Alphabet Inc. has a twelve month low of $103.54 and a twelve month high of $174.71. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the company earned $1.05 EPS. Research analysts predict that Alphabet Inc. will post 6.79 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Redburn Atlantic boosted their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. KeyCorp upped their price target on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Needham & Company LLC upped their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. Wedbush upped their price target on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Morgan Stanley upped their price target on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $187.82.

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.