WPWealth LLP Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

WPWealth LLP lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 48.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,423 shares of the information services provider’s stock after selling 1,353 shares during the quarter. WPWealth LLP’s holdings in Alphabet were worth $269,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% in 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 acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $39,000. PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during 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 in the last quarter. Finally, Denver PWM LLC lifted its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. KeyCorp cut their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Rosenblatt Securities restated a “neutral” rating and set a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.74.

Alphabet Stock Down 2.3 %

Shares of NASDAQ:GOOGL opened at $147.67 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50 day simple moving average of $164.42 and a 200-day simple moving average of $175.78. The company has a market capitalization of $1.80 trillion, a PE ratio of 18.34, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS 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 issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.54%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock worth $25,361,647 in the last 90 days. Company insiders own 11.55% of the company’s stock.

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.