Red Tortoise LLC Increases Stock Position in Alphabet Inc. $GOOG

Red Tortoise LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,924 shares of the information services provider’s stock after purchasing an additional 84 shares during the quarter. Red Tortoise LLC’s holdings in Alphabet were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC raised its stake in shares of Alphabet by 107.9% during the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after acquiring an additional 1,899 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Alphabet by 19.5% during the first quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock worth $14,323,000 after acquiring an additional 14,931 shares in the last quarter. Dividend Assets Capital LLC raised its stake in shares of Alphabet by 4.1% during the first quarter. Dividend Assets Capital LLC now owns 2,522 shares of the information services provider’s stock worth $394,000 after acquiring an additional 100 shares in the last quarter. Finally, Curated Wealth Partners LLC raised its stake in shares of Alphabet by 10.3% during the first quarter. Curated Wealth Partners LLC now owns 5,928 shares of the information services provider’s stock worth $926,000 after acquiring an additional 555 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on GOOG shares. Raymond James Financial reissued an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday. Pivotal Research raised their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Finally, UBS Group raised their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, July 16th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.68.

Insider Activity

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares in the company, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.7%

Shares of Alphabet stock opened at $245.46 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $225.03 and its two-hundred day simple moving average is $188.71. The company has a market cap of $2.97 trillion, a P/E ratio of 26.14, a PEG ratio of 1.67 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

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.