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

Pasadena Private Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Werba Rubin Papier Wealth Management boosted its position in shares of Alphabet by 66.8% in the 4th quarter. Werba Rubin Papier Wealth Management now owns 14,289 shares of the information services provider’s stock worth $2,721,000 after purchasing an additional 5,725 shares during the last quarter. Financial Management Network Inc. boosted its position in shares of Alphabet by 1.3% in the 4th quarter. Financial Management Network Inc. now owns 17,783 shares of the information services provider’s stock worth $3,434,000 after purchasing an additional 228 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Alphabet by 15.2% in the 4th quarter. Global Retirement Partners LLC now owns 83,091 shares of the information services provider’s stock worth $15,824,000 after purchasing an additional 10,960 shares during the last quarter. Semus Wealth Partners LLC raised its stake in Alphabet by 6.4% during the 4th quarter. Semus Wealth Partners LLC now owns 18,809 shares of the information services provider’s stock worth $3,582,000 after buying an additional 1,127 shares during the period. Finally, Timber Creek Capital Management LLC raised its stake in Alphabet by 1.1% during the 4th quarter. Timber Creek Capital Management LLC now owns 68,915 shares of the information services provider’s stock worth $13,124,000 after buying an additional 721 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated 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 transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

NASDAQ:GOOG opened at $181.58 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50-day simple moving average is $194.02 and its 200 day simple moving average is $177.34. The company has a market cap of $2.21 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its 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%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.