Oak Harbor Wealth Partners LLC Sells 615 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Oak Harbor Wealth Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.5% in the 4th quarter, HoldingsChannel reports. The firm owned 5,250 shares of the information services provider’s stock after selling 615 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Alphabet were worth $994,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $163.99 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a fifty day moving average of $182.57 and a two-hundred day moving average of $176.38. The stock has a market capitalization of $2.00 trillion, a PE ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 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%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last three months. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Piper Sandler reduced their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Wedbush boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, DA Davidson boosted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $210.59.

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.