Redhawk Wealth Advisors Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Redhawk Wealth Advisors Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,258 shares of the information services provider’s stock after selling 486 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Alphabet were worth $1,942,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Lantz Financial LLC grew its holdings in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock valued at $842,000 after purchasing an additional 452 shares during the period. Spectrum Wealth Advisory Group LLC purchased a new position in shares of Alphabet during the 2nd quarter valued at $218,000. ANTIPODES PARTNERS Ltd lifted its position in shares of Alphabet by 610.4% during the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 411,936 shares of the information services provider’s stock valued at $75,034,000 after buying an additional 353,949 shares during the last quarter. Defined Wealth Management LLC grew its stake in shares of Alphabet by 5.6% during the 2nd quarter. Defined Wealth Management LLC now owns 2,712 shares of the information services provider’s stock worth $494,000 after acquiring an additional 145 shares during the period. Finally, Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter valued at about $41,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $196.00 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The business’s 50 day simple moving average is $184.08 and its two-hundred day simple moving average is $173.33. The stock has a market capitalization of $2.40 trillion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 EPS. Analysts forecast that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 in the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOGL. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $208.15.

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.