REDW Wealth LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

REDW Wealth LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 50.8% during the 4th quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its stake in shares of Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC grew its holdings in Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Requisite Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $927,000. Finally, Stevens Capital Management LP lifted its holdings in shares of Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after acquiring an additional 57,810 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOG. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Buying and Selling

In other news, 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 transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,316 shares of company stock worth $25,062,887. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.9 %

Shares of GOOG opened at $175.75 on Monday. The stock has a market cap of $2.14 trillion, a PE ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.03. The stock has a 50 day simple moving average of $189.85 and a 200-day simple moving average of $178.07. 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 1 year low of $134.80 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is currently 9.94%.

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.