Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by REDW Wealth LLC

REDW Wealth LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 56.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,997 shares of the information services provider’s stock after selling 3,929 shares during the quarter. REDW Wealth LLC’s holdings in Alphabet were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the 4th quarter valued at $30,000. LMR Partners LLP purchased a new position in shares of Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, PayPay Securities Corp grew its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler lowered their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. Morgan Stanley lowered their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $163.99 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. The company has a 50-day moving average of $182.57 and a two-hundred day moving average of $176.51. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.