Redwood Wealth Management Group LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Redwood Wealth Management Group LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,484 shares of the information services provider’s stock after selling 152 shares during the period. Alphabet accounts for about 1.5% of Redwood Wealth Management Group LLC’s portfolio, making the stock its 15th biggest position. Redwood Wealth Management Group LLC’s holdings in Alphabet were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GOOGL. Williams & Novak LLC increased its position in Alphabet by 45.7% during the third quarter. Williams & Novak LLC now owns 4,389 shares of the information services provider’s stock valued at $728,000 after acquiring an additional 1,376 shares during the last quarter. Axiom Advisory LLC grew its holdings in Alphabet by 116.6% during the 3rd quarter. Axiom Advisory LLC now owns 26,599 shares of the information services provider’s stock valued at $4,454,000 after purchasing an additional 14,318 shares during the last quarter. Blue Zone Wealth Advisors LLC raised its position in Alphabet by 2.7% in the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 61,650 shares of the information services provider’s stock worth $10,225,000 after purchasing an additional 1,616 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in Alphabet by 1.7% in the third quarter. Dynamic Advisor Solutions LLC now owns 143,529 shares of the information services provider’s stock worth $23,804,000 after purchasing an additional 2,389 shares during the last quarter. Finally, Marion Wealth Management boosted its position in shares of Alphabet by 5.6% during the third quarter. Marion Wealth Management now owns 21,327 shares of the information services provider’s stock valued at $3,537,000 after buying an additional 1,124 shares during the period. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GOOGL shares. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Loop Capital boosted their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Piper Sandler cut their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Trading Up 1.4 %

Alphabet stock opened at $186.14 on Friday. The company has a market capitalization of $2.28 trillion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The stock has a 50-day moving average price of $192.37 and a 200 day moving average price of $174.95. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. Company insiders own 11.55% of the company’s stock.

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.