Red Door Wealth Management LLC Has $3.87 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Red Door Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,443 shares of the information services provider’s stock after purchasing an additional 3,599 shares during the period. Red Door Wealth Management LLC’s holdings in Alphabet were worth $3,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after acquiring an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,887 shares of company stock worth $22,470,464. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.8 %

Shares of NASDAQ:GOOGL opened at $195.30 on Wednesday. The business’s 50 day simple moving average is $186.79 and its two-hundred day simple moving average is $173.61. The firm has a market cap of $2.39 trillion, a P/E ratio of 25.90, a PEG ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. KeyCorp upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Evercore ISI upped their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Truist Financial boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.82.

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.