Oak Harbor Wealth Partners LLC Sells 300 Shares of Alphabet Inc. (NASDAQ:GOOG)

Oak Harbor Wealth Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,347 shares of the information services provider’s stock after selling 300 shares during the period. Alphabet comprises approximately 1.5% of Oak Harbor Wealth Partners LLC’s holdings, making the stock its 17th largest position. Oak Harbor Wealth Partners LLC’s holdings in Alphabet were worth $5,018,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GPS Wealth Strategies Group LLC raised its position in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after acquiring an additional 1,041 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Metis Global Partners LLC grew its holdings in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $927,000. Finally, Stevens Capital Management LP increased its holdings in shares of Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after buying an additional 57,810 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.9 %

Shares of GOOG opened at $175.75 on Monday. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52 week low of $134.80 and a 52 week high of $208.70. The stock’s 50-day moving average price is $189.85 and its 200-day moving average price is $178.07. 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:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Scotiabank increased their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction 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 sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,316 shares of company stock valued at $25,062,887. Corporate insiders own 12.99% of the company’s stock.

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.