Redwood Investment Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,404 shares of the information services provider's stock after selling 1,856 shares during the quarter. Redwood Investment Management LLC's holdings in Alphabet were worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Optivise Advisory Services LLC increased its holdings in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares in the last quarter. Community Bank N.A. increased its stake in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its holdings in Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after buying an additional 14,262 shares during the last quarter. Absolute Capital Management LLC raised its holdings in Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after buying an additional 258 shares during the last quarter. Finally, Permanent Capital Management LP bought a new position in shares of Alphabet in the fourth quarter valued at $273,000. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 2,824 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is owned by corporate insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $165.37 on Thursday. The company has a 50 day moving average of $158.21 and a 200 day moving average of $175.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.54, a P/E/G 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 quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the business earned $1.89 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet's payout ratio is presently 9.36%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a report on Tuesday, May 6th. Bank of America raised their target price on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Finally, Stifel Nicolaus lowered their price target on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Stock Analysis on Alphabet
About Alphabet
(
Free Report)
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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