Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Balboa Wealth Partners

Balboa Wealth Partners lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,331 shares of the information services provider’s stock after acquiring an additional 622 shares during the period. Alphabet accounts for approximately 0.7% of Balboa Wealth Partners’ investment portfolio, making the stock its 25th biggest holding. Balboa Wealth Partners’ holdings in Alphabet were worth $3,091,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the fourth quarter worth about $30,000. LMR Partners LLP acquired a new position in Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp increased its holdings in shares of 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 acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GOOGL shares. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research note on Thursday, February 6th. Rosenblatt Securities reissued a “neutral” rating and set a $205.00 price target on shares of Alphabet in a report on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. KeyCorp lowered their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Finally, Piper Sandler cut their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten 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’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.59.

Insider Activity

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

Alphabet Price Performance

NASDAQ:GOOGL opened at $167.68 on Tuesday. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company’s 50-day moving average is $182.10 and its two-hundred day moving average is $176.73. 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 announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.