Red Door Wealth Management LLC Buys 3,599 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Red Door Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,443 shares of the information services provider’s stock after acquiring an additional 3,599 shares during the period. Red Door Wealth Management LLC’s holdings in Alphabet were worth $3,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. Denver PWM LLC increased its position in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the last quarter. Quarry LP purchased a new stake in Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the third quarter worth $66,000. Finally, Mendota Financial Group LLC increased its position in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC raised their target price on Alphabet from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.82.

Alphabet Trading Up 1.8 %

Shares of GOOGL stock opened at $195.30 on Wednesday. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The business has a 50-day moving average of $186.79 and a 200 day moving average of $173.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business posted $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Company 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.