Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 107,243 shares of the information services provider’s stock after selling 1,338 shares during the quarter. Alphabet accounts for 1.3% of EverSource Wealth Advisors LLC’s holdings, making the stock its 17th biggest position. EverSource Wealth Advisors LLC’s holdings in Alphabet were worth $20,301,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in Alphabet during the fourth quarter valued at $30,000. LMR Partners LLP purchased a new position in Alphabet during the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

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

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $163.99 on Monday. The firm has a market cap of $2.00 trillion, a P/E ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50-day moving average is $182.57 and its 200-day moving average is $176.65. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts anticipate 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 paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. DA Davidson increased their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Piper Sandler decreased their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Bank of America reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target 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.