Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Red Door Wealth Management LLC

Red Door Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,594 shares of the information services provider’s stock after purchasing an additional 151 shares during the quarter. Red Door Wealth Management LLC’s holdings in Alphabet were worth $3,185,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $49,000. EQ Wealth Advisors LLC purchased a new position in Alphabet during the first quarter worth approximately $49,000. Navigoe LLC purchased a new position in Alphabet during the fourth quarter worth approximately $51,000. Prudent Man Investment Management Inc. purchased a new position in Alphabet during the fourth quarter worth approximately $53,000. Finally, Campbell Capital Management Inc. purchased a new position in Alphabet during the fourth quarter worth approximately $57,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. UBS Group set a $195.00 price target on shares of Alphabet in a research note on Friday, April 25th. DA Davidson cut their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 over the last ninety days. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $179.08 on Friday. The firm’s 50 day simple moving average is $168.70 and its 200-day simple moving average is $173.87. The company has a market cap of $2.17 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

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.