Redwood Wealth Management Group LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Redwood Wealth Management Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% during the 1st quarter, HoldingsChannel reports. The firm owned 17,355 shares of the information services provider’s stock after purchasing an additional 750 shares during the quarter. Alphabet comprises 1.4% of Redwood Wealth Management Group LLC’s investment portfolio, making the stock its 21st biggest position. Redwood Wealth Management Group LLC’s holdings in Alphabet were worth $2,711,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the last quarter. LSV Asset Management purchased a new position in shares of Alphabet during the 4th quarter worth $27,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $173.98 on Thursday. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50-day moving average of $165.77 and a 200 day moving average of $176.42. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during 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%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current 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 $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

GOOG has been the topic of a number of analyst reports. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. UBS Group lowered their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

About Alphabet

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.