Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Fairhaven Wealth Management LLC

Fairhaven Wealth Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,129 shares of the information services provider’s stock after selling 58 shares during the period. Alphabet comprises approximately 1.8% of Fairhaven Wealth Management LLC’s holdings, making the stock its 14th largest holding. Fairhaven Wealth Management LLC’s holdings in Alphabet were worth $5,703,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $30,000. LMR Partners LLP acquired a new position in Alphabet during the 3rd quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter worth $39,000. Finally, PayPay Securities Corp lifted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.9 %

NASDAQ GOOGL opened at $173.86 on Monday. 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 1-year low of $134.00 and a 1-year high of $207.05. The firm’s fifty day simple moving average is $188.21 and its 200-day simple moving average is $176.54. The company has a market capitalization of $2.12 trillion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOGL. 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 report on Monday, January 6th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, DA Davidson boosted their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,316 shares of company stock worth $25,062,887. Corporate 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.