Redwood Wealth Management Group LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Redwood Wealth Management Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,355 shares of the information services provider’s stock after acquiring an additional 750 shares during the period. Alphabet makes up approximately 1.4% of Redwood Wealth Management Group LLC’s holdings, making the stock its 21st biggest holding. Redwood Wealth Management Group LLC’s holdings in Alphabet were worth $2,711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $5,166,070,000. GAMMA Investing LLC increased its stake in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $1,551,533,000. Northern Trust Corp lifted its stake in shares of Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, GQG Partners LLC grew its holdings in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock valued at $32,003,532 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $173.98 on Thursday. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.25 and a beta of 1.01. The stock has a 50-day moving average of $165.77 and a 200 day moving average of $176.42. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup restated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Finally, Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.88.

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.