REDW Wealth LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

REDW Wealth LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 56.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Schear Investment Advisers LLC grew its stake in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after buying an additional 4,905 shares during the period. Permanent Capital Management LP purchased a new stake in Alphabet during the fourth quarter worth approximately $273,000. Landscape Capital Management L.L.C. grew its stake in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the period. Glass Wealth Management Co LLC grew its stake in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after buying an additional 1,580 shares during the period. Finally, Olistico Wealth LLC grew its stake in Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after buying an additional 746 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Stock Up 0.7 %

Shares of NASDAQ:GOOGL opened at $163.99 on Friday. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05. The company’s fifty day moving average is $182.57 and its two-hundred day moving average is $176.51. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s 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 transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. 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 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.