Alphabet Inc. $GOOGL Shares Sold by Redwood Investments LLC

Redwood Investments LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 24.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 58,500 shares of the information services provider’s stock after selling 19,167 shares during the period. Alphabet comprises approximately 3.4% of Redwood Investments LLC’s holdings, making the stock its 3rd biggest holding. Redwood Investments LLC’s holdings in Alphabet were worth $9,046,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GOOGL. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE grew its stake in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after buying an additional 1,003 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of Alphabet by 3.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 137,477 shares of the information services provider’s stock worth $26,024,000 after buying an additional 4,762 shares during the last quarter. Finally, Forum Financial Management LP raised its position in shares of Alphabet by 6.4% in the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock worth $14,985,000 after buying an additional 4,756 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Needham & Company LLC lifted their target price on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 24th. BMO Capital Markets lifted their target price on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. DA Davidson lifted their target price on Alphabet from $180.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Finally, Rosenblatt Securities upped their price target on shares of Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $222.33.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,710 shares of company stock worth $49,208,380. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $235.00 on Monday. The firm has a market cap of $2.84 trillion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The firm’s 50-day simple moving average is $195.79 and its 200-day simple moving average is $175.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $235.76.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

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.