WPWealth LLP Sells 1,353 Shares of Alphabet Inc. (NASDAQ:GOOGL)

WPWealth LLP trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 48.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,423 shares of the information services provider’s stock after selling 1,353 shares during the period. WPWealth LLP’s holdings in Alphabet were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Compass Planning Associates Inc bought a new stake in Alphabet in the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Alphabet by 518.8% in the 4th 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 during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter worth about $39,000. PayPay Securities Corp increased its stake in 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 acquiring an additional 65 shares during the last quarter. Finally, Denver PWM LLC raised its position in Alphabet by 25.4% during the third 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 during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,163 shares of company stock worth $25,361,647. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Piper Sandler decreased their price target on Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Wolfe Research raised their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Truist Financial cut their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Thursday, April 10th. Finally, Morgan Stanley reduced their price target on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.74.

Alphabet Trading Down 2.3 %

NASDAQ GOOGL opened at $147.67 on Tuesday. The stock has a market cap of $1.80 trillion, a P/E ratio of 18.34, a P/E/G ratio of 1.34 and a beta of 1.03. 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 Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a fifty day simple moving average of $164.42 and a two-hundred day simple moving average of $175.78.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.