Redmond Asset Management LLC Sells 1,335 Shares of Alphabet Inc. (NASDAQ:GOOG)

Redmond Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,159 shares of the information services provider’s stock after selling 1,335 shares during the period. Redmond Asset Management LLC’s holdings in Alphabet were worth $2,125,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. FMR LLC raised its stake in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after acquiring an additional 259,213 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Jennison Associates LLC raised its position in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GOOG shares. Oppenheimer lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $177.37 on Wednesday. The business’s 50 day moving average is $193.29 and its 200-day moving average is $177.66. The firm has a market cap of $2.16 trillion, a P/E ratio of 22.03, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,299 shares of company stock worth $25,055,751. Corporate insiders own 12.99% of the company’s stock.

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.