1,639 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,639 shares of the information services provider’s stock, valued at approximately $229,000.

A number of other large investors have also recently made changes to their positions in GOOGL. Cardinal Capital Management boosted its holdings in Alphabet by 0.8% in the third quarter. Cardinal Capital Management now owns 64,895 shares of the information services provider’s stock valued at $8,492,000 after purchasing an additional 525 shares in the last quarter. Altus Wealth Management LLC boosted its holdings in Alphabet by 40.3% in the third quarter. Altus Wealth Management LLC now owns 3,339 shares of the information services provider’s stock valued at $437,000 after purchasing an additional 959 shares in the last quarter. Tevis Investment Management boosted its holdings in Alphabet by 1.2% in the third quarter. Tevis Investment Management now owns 9,876 shares of the information services provider’s stock valued at $1,292,000 after purchasing an additional 117 shares in the last quarter. First Affirmative Financial Network boosted its holdings in Alphabet by 7.2% in the third quarter. First Affirmative Financial Network now owns 8,685 shares of the information services provider’s stock valued at $1,136,000 after purchasing an additional 582 shares in the last quarter. Finally, Arcus Capital Partners LLC boosted its holdings in Alphabet by 1.8% in the third quarter. Arcus Capital Partners LLC now owns 8,671 shares of the information services provider’s stock valued at $1,135,000 after purchasing an additional 150 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective (up from $160.00) on shares of Alphabet in a report on Friday. TD Cowen increased their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by corporate insiders.

Alphabet Trading Up 10.2 %

Shares of GOOGL stock opened at $171.95 on Friday. Alphabet Inc. has a fifty-two week low of $103.54 and a fifty-two week high of $174.71. The stock has a market cap of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The business has a fifty day simple moving average of $147.85 and a 200-day simple moving average of $141.42. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter last year, the business posted $1.05 earnings per share. On average, analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

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.