Fairhaven Wealth Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 30,129 shares of the information services provider’s stock after selling 58 shares during the quarter. Alphabet accounts for 1.8% of Fairhaven Wealth Management LLC’s holdings, making the stock its 14th largest position. Fairhaven Wealth Management LLC’s holdings in Alphabet were worth $5,703,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Compass Planning Associates Inc acquired a new position in Alphabet in the 4th quarter valued at approximately $30,000. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of 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 during the period. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research note on Thursday, February 6th. Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.
Read Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
NASDAQ:GOOGL opened at $173.86 on Monday. The stock has a 50 day simple moving average of $188.21 and a 200 day simple moving average of $176.54. The stock has a market cap of $2.12 trillion, a P/E ratio of 21.60, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $134.00 and a 1-year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock worth $25,062,887 in the last quarter. Corporate insiders own 11.55% of the company’s stock.
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.
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