Pasadena Private Wealth LLC Sells 120 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pasadena Private Wealth LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,566 shares of the information services provider’s stock after selling 120 shares during the period. Pasadena Private Wealth LLC’s holdings in Alphabet were worth $1,441,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Swedbank AB boosted its stake in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after buying an additional 51,226 shares during the period. Harvey Investment Co. LLC boosted its stake in shares of Alphabet by 2.9% in the third quarter. Harvey Investment Co. LLC now owns 108,221 shares of the information services provider’s stock valued at $18,093,000 after buying an additional 3,085 shares during the period. Grimes & Company Inc. boosted its stake in shares of Alphabet by 0.6% in the third quarter. Grimes & Company Inc. now owns 71,485 shares of the information services provider’s stock valued at $11,952,000 after buying an additional 436 shares during the period. Impact Partnership Wealth LLC boosted its stake in shares of Alphabet by 7.0% in the third quarter. Impact Partnership Wealth LLC now owns 1,823 shares of the information services provider’s stock valued at $305,000 after buying an additional 119 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Alphabet by 2.0% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 95,857 shares of the information services provider’s stock valued at $16,026,000 after buying an additional 1,842 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $181.58 on Friday. 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 Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The stock has a market cap of $2.21 trillion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.34 and a beta of 1.00. The company’s fifty day moving average is $194.02 and its 200 day moving average is $177.34.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current 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. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock valued at $25,055,751 over the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Company 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.