Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by RedJay Asset Management Inc.

RedJay Asset Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the information services provider's stock after selling 20,000 shares during the quarter. Alphabet accounts for 4.6% of RedJay Asset Management Inc.'s investment portfolio, making the stock its 13th largest position. RedJay Asset Management Inc.'s holdings in Alphabet were worth $7,572,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,654 shares of company stock worth $26,793,380. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOGL shares. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Tigress Financial increased their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. UBS Group set a $195.00 price objective on shares of Alphabet in a research report on Friday, April 25th. DA Davidson decreased their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.75.

Alphabet Stock Down 0.5%

Alphabet stock traded down $0.82 during mid-day trading on Thursday, reaching $171.55. 17,806,139 shares of the company were exchanged, compared to its average volume of 29,792,310. The business has a fifty day moving average of $159.04 and a 200 day moving average of $174.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.08 trillion, a P/E ratio of 21.31, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. Research analysts anticipate 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. Investors of record on Monday, June 9th will be paid a $0.21 dividend. 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is currently 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.