Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by Red Door Wealth Management LLC

Red Door Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,241 shares of the information services provider’s stock after buying an additional 174 shares during the quarter. Red Door Wealth Management LLC’s holdings in Alphabet were worth $2,451,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. M. Kraus & Co increased its holdings in Alphabet by 1.1% in the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after buying an additional 66 shares during the period. Wynn Capital LLC boosted its position in shares of Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after acquiring an additional 67 shares in the last quarter. Aire Advisors LLC increased its stake in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the period. Henrickson Nauta Wealth Advisors Inc. raised its position in Alphabet by 2.1% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after purchasing an additional 68 shares in the last quarter. Finally, Defined Wealth Management LLC lifted its stake in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after purchasing an additional 71 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Piper Sandler reiterated an “overweight” rating and set a $200.00 price objective (up from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Tigress Financial boosted their target price on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. Bank of America reiterated a “buy” rating and set a $200.00 target price on shares of Alphabet in a research report on Tuesday, June 11th. Finally, Citigroup boosted their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $193.66.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,788 shares of company stock valued at $21,143,403. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $185.82 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 28.50, a PEG ratio of 1.37 and a beta of 1.05. The business has a 50-day moving average of $173.92 and a 200-day moving average of $155.17. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $186.09.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company earned $1.17 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

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.