Redmond Asset Management LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Redmond Asset Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,933 shares of the information services provider’s stock after selling 509 shares during the quarter. Alphabet makes up 1.8% of Redmond Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Redmond Asset Management LLC’s holdings in Alphabet were worth $7,181,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the 4th quarter worth $30,000. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% during 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. acquired a new stake in Alphabet in the 4th quarter worth about $39,000. Finally, PayPay Securities Corp grew its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Citigroup dropped their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Wolfe Research lifted their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Robert W. Baird restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,316 shares of company stock valued at $25,062,887 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.4 %

NASDAQ:GOOGL opened at $172.35 on Friday. 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 stock has a 50 day moving average of $188.59 and a 200-day moving average of $176.35. The firm has a market capitalization of $2.10 trillion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 52 week low of $131.61 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

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.