Alphabet Inc. $GOOG Shares Bought by Redwood Wealth Management Group LLC

Redwood Wealth Management Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,585 shares of the information services provider’s stock after acquiring an additional 230 shares during the quarter. Alphabet comprises about 1.4% of Redwood Wealth Management Group LLC’s portfolio, making the stock its 16th biggest holding. Redwood Wealth Management Group LLC’s holdings in Alphabet were worth $3,119,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOG. IFS Advisors LLC boosted its holdings in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its holdings in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC boosted its holdings in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares during the last quarter. Fairman Group LLC boosted its holdings in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOG. KeyCorp restated an “overweight” rating and set a $330.00 target price on shares of Alphabet in a report on Thursday. Barclays boosted their target price on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Pivotal Research boosted their target price on Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Up 0.8%

GOOG stock opened at $284.12 on Tuesday. The firm has a market cap of $3.44 trillion, a PE ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm’s 50 day moving average price is $246.09 and its 200-day moving average price is $202.22. Alphabet Inc. has a one year low of $142.66 and a one year high of $291.93.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 222,442 shares of company stock valued at $51,200,307 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.