Redwood Financial Network Corp Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Redwood Financial Network Corp raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,622 shares of the information services provider’s stock after purchasing an additional 552 shares during the period. Redwood Financial Network Corp’s holdings in Alphabet were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GOOGL. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at about $24,383,677,000. FMR LLC increased its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. This represents a 15.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $165.37 on Thursday. The company has a market cap of $2.01 trillion, a P/E ratio of 20.54, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company’s 50-day moving average price is $158.21 and its 200-day moving average price is $175.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the business earned $1.89 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Analysts Set New Price Targets

A number of research firms have issued reports on GOOGL. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research note on Thursday, February 6th. Susquehanna reduced their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. UBS Group set a $195.00 price target on Alphabet in a research note on Friday, April 25th. Westpark Capital reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $199.75.

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.