REDW Wealth LLC Sells 408 Shares of Alphabet Inc. (NASDAQ:GOOGL)

REDW Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,926 shares of the information services provider’s stock after selling 408 shares during the period. REDW Wealth LLC’s holdings in Alphabet were worth $1,149,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 0.8% in the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. Capital Research Global Investors boosted its position in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Alphabet by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors boosted its position in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GOOGL shares. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Loop Capital upped their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Citigroup upped their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Tigress Financial upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Down 1.8 %

Shares of GOOGL stock opened at $172.49 on Friday. The company has a 50 day moving average of $165.18 and a 200-day moving average of $170.08. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market cap of $2.11 trillion, a P/E ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the business posted $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is currently 10.61%.

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.