Redpoint Investment Management Pty Ltd holds a $20.01 million equity position in Alphabet Inc. (NASDAQ:GOOG)


Redpoint Investment Management Pty Ltd decreased its holdings of Alphabet Inc. (NASDAQ:GOOG – Get Rating) shares by 0.4% in the first quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 7,163 shares of the information services provider after selling 26 shares during the period. Alphabet represents approximately 2.0% of the holdings of Redpoint Investment Management Pty Ltd, making it its 4th largest holding. Redpoint Investment Management Pty Ltd’s holdings of Alphabet were worth $20,006,000 at the end of the last quarter.

Other institutional investors and hedge funds have also increased or reduced their stake in the company. BlackRock Inc. increased its holdings of Alphabet shares by 1.1% during the 4th quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider worth $55,545,866,000 after acquiring an additional 205,225 shares during the period. State Street Corp increased its holdings of Alphabet shares by 0.6% during the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider worth $30,696,262,000 after acquiring an additional 58,955 shares during the period. Geode Capital Management LLC increased its stake in Alphabet shares by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider worth $13,474,847,000 after acquiring an additional 97,666 shares during the period. JPMorgan Chase & Co. increased its stake in Alphabet shares by 2.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider worth $10,857,740,000 after acquiring an additional 87,144 shares during the period. Finally, Alliancebernstein LP increased its stake in Alphabet shares by 1.6% during the 4th quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider worth $8,920,776,000 after acquiring an additional 48,928 shares during the period. 31.20% of the shares are held by institutional investors and hedge funds.

Several research companies have weighed in on GOOG recently. Oppenheimer reworded an “outperform” rating and posted a price target of $3,290.00 on Alphabet shares in a research note on Thursday, April 28. Raymond James reduced his price target on Alphabet from $3,630.00 to $3,180.00 in a Wednesday, April 27 research note. JPMorgan Chase & Co. reduced its price target on Alphabet from $3,450.00 to $3,200.00 in a Wednesday, April 27 research note. Wedbush rephrased an “outperform” rating on Alphabet shares in a Wednesday, April 20 research note. Finally, Tigress Financial raised its price target on Alphabet from $3,540.00 to $3,670.00 in a Friday, March 18 research note. Twenty-nine investment analysts have rated the stock with a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $3,315.38.

Alphabet shares opened at $2,370.76 on Friday. Alphabet Inc. has a one-year low of $2,044.16 and a one-year high of $3,042.00. The stock’s fifty-day moving average is $2,298.68 and its 200-day moving average is $2,595.91. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 21.44, a P/E/G ratio of 1.10 and a beta of 1.13. The company has a debt ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.

Alphabet shares will be split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly issued shares will be distributed to shareholders after market close on Friday, July 15.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). The company posted revenue of $56.02 billion for the quarter, versus a consensus estimate of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same period a year earlier, the company had earned earnings per share of $26.29. Analysts expect Alphabet Inc. to post EPS of 110.83 for the current year.

Separately, CAO Amie Thuener O’toole sold 42 shares of the company in a transaction dated Friday, April 1. The stock was sold at an average price of $2,800.20, for a total transaction of $117,608.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, SVP Prabhakar Raghavan sold 1,276 shares of the company in a trade dated Monday, April 4. The shares were sold at an average price of $2,816.49, for a total value of $3,593,841.24. As a result of the transaction, the senior vice president now owns 14,034 shares of the company, valued at approximately $39,526,620.66. The disclosure of this sale can be found here. In the past three months, insiders have sold 551,675 shares of the company worth $25,567,428. Insiders own 12.99% of the shares of the company.

Alphabet Company Profile (Get an evaluation)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

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Institutional ownership by quarter for Alphabet (NASDAQ:GOOG)



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