Oak Harbor Wealth Partners LLC Sells 615 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Oak Harbor Wealth Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,250 shares of the information services provider’s stock after selling 615 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Alphabet were worth $994,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Schear Investment Advisers LLC grew its holdings in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Permanent Capital Management LP purchased a new stake in Alphabet in the fourth quarter worth about $273,000. Landscape Capital Management L.L.C. grew its holdings in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the period. Glass Wealth Management Co LLC grew its holdings in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares during the period. Finally, Olistico Wealth LLC grew its holdings in Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $163.99 on Friday. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. The firm has a fifty day simple moving average of $182.57 and a two-hundred day simple moving average of $176.38. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. 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 0.49%. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a report on Thursday, February 6th. JPMorgan Chase & Co. cut 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. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 price target on shares of Alphabet in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

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.