Redwood Financial Network Corp Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Redwood Financial Network Corp increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 5,622 shares of the information services provider’s stock after buying an additional 552 shares during the quarter. Redwood Financial Network Corp’s holdings in Alphabet were worth $1,064,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Compass Planning Associates Inc purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $165.37 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $158.21 and a 200-day moving average price of $175.05. The firm has a market capitalization of $2.01 trillion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the company posted $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,815,948.32. This represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock valued at $30,153,353 in the last quarter. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Wells Fargo & Company increased their price target on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Citigroup boosted their price objective on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Susquehanna decreased their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.75.

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.