Redwood Investment Management LLC Has $2.85 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Redwood Investment Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 74.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,260 shares of the information services provider’s stock after selling 49,716 shares during the quarter. Redwood Investment Management LLC’s holdings in Alphabet were worth $2,848,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Lantz Financial LLC boosted its position in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after acquiring an additional 452 shares during the last quarter. Strong Tower Advisory Services boosted its position in shares of Alphabet by 8.4% during the 2nd quarter. Strong Tower Advisory Services now owns 45,695 shares of the information services provider’s stock valued at $8,323,000 after purchasing an additional 3,523 shares in the last quarter. PCG Wealth Advisors LLC grew its stake in Alphabet by 3.7% during the second quarter. PCG Wealth Advisors LLC now owns 3,575 shares of the information services provider’s stock worth $651,000 after purchasing an additional 129 shares during the period. Alpha Cubed Investments LLC increased its holdings in Alphabet by 0.4% in the second quarter. Alpha Cubed Investments LLC now owns 544,086 shares of the information services provider’s stock worth $99,105,000 after purchasing an additional 2,008 shares in the last quarter. Finally, Cooper Financial Group lifted its stake in Alphabet by 8.6% in the second quarter. Cooper Financial Group now owns 57,673 shares of the information services provider’s stock valued at $10,505,000 after buying an additional 4,554 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOGL shares. JMP Securities lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 30th. KeyCorp upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.08.

Alphabet Price Performance

GOOGL opened at $189.82 on Friday. The firm has a 50-day moving average price of $171.63 and a 200-day moving average price of $170.67. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock worth $34,413,006 in the last quarter. 11.55% of the stock is owned by company insiders.

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.