ShoreHaven Wealth Partners LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

ShoreHaven Wealth Partners LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,495 shares of the information services provider’s stock after selling 233 shares during the period. ShoreHaven Wealth Partners LLC’s holdings in Alphabet were worth $851,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after acquiring an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after buying an additional 523,416 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated 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 directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,299 shares of company stock worth $25,055,751. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Truist Financial raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Citigroup cut their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Performance

GOOGL opened at $179.25 on Tuesday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The firm has a market capitalization of $2.19 trillion, a PE ratio of 22.27, a PEG ratio of 1.34 and a beta of 0.99. 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 business’s 50-day simple moving average is $192.12 and its 200 day simple moving average is $176.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s payout ratio is 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.