Redmond Asset Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,905 shares of the information services provider’s stock after selling 930 shares during the quarter. Alphabet comprises 1.5% of Redmond Asset Management LLC’s portfolio, making the stock its 10th biggest position. Redmond Asset Management LLC’s holdings in Alphabet were worth $4,315,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Bornite Capital Management LP acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $16,688,000. Markel Corp grew its position in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank grew its position in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its position in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $105.41 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34. The stock’s fifty day moving average price is $101.00 and its two-hundred day moving average price is $96.80. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.85. The firm has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.48, a P/E/G ratio of 1.39 and a beta of 1.10.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,539 shares of company stock valued at $10,214,031. 11.44% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. KeyCorp decreased their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Finally, Bank of America boosted their target price on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $130.06.
About Alphabet
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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