REDW Wealth LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

REDW Wealth LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 50.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,101 shares of the information services provider’s stock after selling 3,200 shares during the quarter. REDW Wealth LLC’s holdings in Alphabet were worth $591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP purchased a new stake in Alphabet during the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Alphabet in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOG stock opened at $175.75 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $134.80 and a twelve month high of $208.70. The stock has a market cap of $2.14 trillion, a P/E ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.03. The company’s 50 day moving average is $189.85 and its two-hundred day moving average is $178.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. 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 company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,316 shares of company stock worth $25,062,887. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.13.

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.