Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Redmond Asset Management LLC

Posted by Defense World Staff on Aug 3rd, 2023

Redmond Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,364 shares of the information services provider’s stock after selling 541 shares during the quarter. Alphabet comprises 1.7% of Redmond Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Redmond Asset Management LLC’s holdings in Alphabet were worth $5,017,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Live Oak Investment Partners bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the third quarter valued at approximately $38,000. IAG Wealth Partners LLC increased its position in shares of Alphabet by 100.0% during the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Finally, AM Squared Ltd bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $44,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 2.4 %

NASDAQ:GOOGL opened at $128.38 on Thursday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $133.74. The business’s 50-day moving average price is $123.14 and its two-hundred day moving average price is $109.56. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.58 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the prior year, the company earned $1.21 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 5.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Wells Fargo & Company boosted their price objective on Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein upped their price target on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Tigress Financial upped their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research report on Friday, July 14th. Evercore ISI upped their price target on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Finally, TD Cowen upped their price target on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Four investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $142.19.

Check Out Our Latest Stock Analysis on Alphabet

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 7,286 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were purchased at an average price of $26.98 per share, with a total value of $196,576.28. Following the completion of the acquisition, the insider now owns 2,647,312 shares of the company’s stock, valued at approximately $71,424,477.76. The disclosure for this purchase can be found here. Insiders sold 841,501 shares of company stock worth $29,365,352 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.