Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Redwood Investments LLC

Redwood Investments LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 77,667 shares of the information services provider's stock after buying an additional 11,105 shares during the period. Alphabet accounts for about 3.9% of Redwood Investments LLC's portfolio, making the stock its 4th largest holding. Redwood Investments LLC's holdings in Alphabet were worth $14,702,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Compass Planning Associates Inc bought a new position in Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter worth approximately $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 2,824 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,815,948.32. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 179,324 shares of company stock valued at $30,153,353. Company insiders own 11.64% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Mizuho dropped their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Trading Up 3.7%

Shares of NASDAQ GOOGL opened at $165.37 on Thursday. The firm has a 50 day moving average price of $158.21 and a two-hundred day moving average price of $175.05. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.

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.

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