Alphabet Inc. (NASDAQ:GOOGL) is White Pine Capital LLC’s 7th Largest Position

White Pine Capital LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,797 shares of the information services provider’s stock after selling 946 shares during the period. Alphabet comprises approximately 1.6% of White Pine Capital LLC’s investment portfolio, making the stock its 7th largest holding. White Pine Capital LLC’s holdings in Alphabet were worth $4,883,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in shares of Alphabet in 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 worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% in the 4th 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. Finally, Denver PWM LLC boosted its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

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 completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock worth $25,055,751 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Morgan Stanley reduced their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Piper Sandler lowered their target price on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Price Performance

Shares of GOOGL opened at $175.42 on Wednesday. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 21.79, a PEG ratio of 1.34 and a beta of 0.99. The firm’s fifty day simple moving average is $191.72 and its 200-day simple moving average is $176.14. Alphabet Inc. has a twelve month low of $130.66 and a twelve month 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) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) 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.