Red Tortoise LLC Has $267,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Red Tortoise LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,726 shares of the information services provider’s stock after selling 500 shares during the period. Red Tortoise LLC’s holdings in Alphabet were worth $267,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $49,000. Navigoe LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $53,000. Campbell Capital Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $57,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.2%

Shares of GOOGL stock opened at $179.08 on Monday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $168.70 and a two-hundred day moving average price of $173.77. The firm 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.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Piper Sandler boosted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Mizuho reduced their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Stifel Nicolaus reduced their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, BNP Paribas Exane reaffirmed a “neutral” rating and issued a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.95.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last 90 days. Insiders own 11.55% of the company’s stock.

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.