Red Door Wealth Management LLC Has $2.24 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Red Door Wealth Management LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,067 shares of the information services provider’s stock after buying an additional 845 shares during the quarter. Red Door Wealth Management LLC’s holdings in Alphabet were worth $2,244,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GOOGL. Aprio Wealth Management LLC raised its holdings in shares of Alphabet by 7.2% during the fourth quarter. Aprio Wealth Management LLC now owns 7,425 shares of the information services provider’s stock valued at $1,037,000 after purchasing an additional 497 shares during the period. Dash Acquisitions Inc. raised its stake in Alphabet by 9.4% during the 4th quarter. Dash Acquisitions Inc. now owns 7,629 shares of the information services provider’s stock worth $1,085,000 after buying an additional 656 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Alphabet by 30.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 9,921,430 shares of the information services provider’s stock worth $1,385,925,000 after acquiring an additional 2,301,426 shares in the last quarter. Mason & Associates Inc increased its holdings in shares of Alphabet by 8.3% during the fourth quarter. Mason & Associates Inc now owns 5,342 shares of the information services provider’s stock valued at $746,000 after acquiring an additional 409 shares in the last quarter. Finally, NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd acquired a new position in shares of Alphabet during the fourth quarter worth approximately $2,130,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the transaction, the director now directly owns 6,784 shares of the company’s stock, valued at $973,436.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the sale, the director now owns 6,784 shares in the company, valued at $973,436.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total transaction of $3,152,475.00. Following the sale, the chief executive officer now owns 2,422,691 shares of the company’s stock, valued at $339,443,236.01. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,378 shares of company stock valued at $35,461,377. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Rosenblatt Securities decreased their target price on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. KeyCorp boosted their price objective on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Finally, JMP Securities raised their price objective on Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.48.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $150.87 on Thursday. The company’s fifty day moving average price is $143.33 and its 200-day moving average price is $138.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a one year low of $99.74 and a one year high of $153.78.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the business posted $1.05 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

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.