Red Door Wealth Management LLC Has $16.85 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Red Door Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,862 shares of the information services provider's stock after buying an additional 11,477 shares during the period. Alphabet makes up 2.5% of Red Door Wealth Management LLC's holdings, making the stock its 8th biggest holding. Red Door Wealth Management LLC's holdings in Alphabet were worth $16,851,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. ARQ Wealth Advisors LLC lifted its position in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky raised its holdings in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares during the period. Harvest Investment Services LLC boosted its position in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares in the last quarter. North Forty Two & Co. bought a new position in shares of Alphabet during the 4th quarter worth about $281,000. Finally, Fermata Advisors LLC grew its stake in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after buying an additional 259 shares during the period. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $35,682,228 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 0.3%

NASDAQ:GOOG traded down $0.48 on Tuesday, hitting $176.91. The stock had a trading volume of 24,840,304 shares, compared to its average volume of 21,092,761. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm's fifty day simple moving average is $168.37 and its two-hundred day simple moving average is $175.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $2.15 trillion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 earnings per share. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Finally, Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $206.38.

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.