Oak Harbor Wealth Partners LLC Sells 802 Shares of Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Mar 27th, 2023

Oak Harbor Wealth Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,271 shares of the information services provider’s stock after selling 802 shares during the period. Oak Harbor Wealth Partners LLC’s holdings in Alphabet were worth $2,331,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OLD Second National Bank of Aurora raised its stake in Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares in the last quarter. Westchester Capital Management Inc. increased its stake in shares of Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC increased its stake in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Saban Cheryl increased its stake in shares of Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 190 shares in the last quarter. Finally, Gould Capital LLC increased its stake in shares of Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. 28.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GOOG shares. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Societe Generale decreased their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. UBS Group set a $120.00 target price on shares of Alphabet in a research note on Monday, February 6th. Finally, Credit Suisse Group set a $136.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $135.11.

Insider Buying and Selling

In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the sale, the director now owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,245 shares of company stock worth $7,174,078. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.2 %

Shares of GOOG stock opened at $106.06 on Monday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $144.16. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $97.08 and its 200 day moving average is $96.49. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 23.30, a P/E/G ratio of 1.46 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 5.12 earnings per share for the current year.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.