Redwood Wealth Management Group LLC Sells 813 Shares of Alphabet Inc. $GOOGL

Redwood Wealth Management Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,226 shares of the information services provider’s stock after selling 813 shares during the period. Alphabet accounts for approximately 1.2% of Redwood Wealth Management Group LLC’s holdings, making the stock its 21st biggest position. Redwood Wealth Management Group LLC’s holdings in Alphabet were worth $2,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares in the last quarter. Smart Money Group LLC increased its position in Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after buying an additional 532 shares in the last quarter. Cornerstone Investment Partners LLC raised its stake in Alphabet by 1.8% during the first quarter. Cornerstone Investment Partners LLC now owns 579,842 shares of the information services provider’s stock valued at $89,667,000 after buying an additional 10,009 shares during the last quarter. Finally, Arcus Capital Partners LLC boosted its holdings in Alphabet by 1.4% in the first quarter. Arcus Capital Partners LLC now owns 7,392 shares of the information services provider’s stock worth $1,143,000 after acquiring an additional 100 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.8%

GOOGL opened at $276.41 on Friday. The stock has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.86 and a beta of 1.05. The firm has a 50 day moving average price of $257.24 and a 200-day moving average price of $208.59. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $292.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is presently 8.28%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GOOGL shares. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Bank of America increased their price objective on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Oppenheimer lifted their target price on shares of Alphabet from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Rosenblatt Securities upped their target price on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Four analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This represents a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 221,796 shares of company stock valued at $53,983,001 in the last 90 days. 11.55% of the stock is owned by company insiders.

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.