Fernwood Investment Management LLC Sells 345 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fernwood Investment Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,013 shares of the information services provider’s stock after selling 345 shares during the period. Alphabet accounts for 2.7% of Fernwood Investment Management LLC’s holdings, making the stock its 7th biggest position. Fernwood Investment Management LLC’s holdings in Alphabet were worth $7,764,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new stake in Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% in the fourth 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. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Morgan Stanley dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler dropped their price target on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.49.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $159.07 on Tuesday. The firm has a 50 day moving average price of $167.87 and a two-hundred day moving average price of $176.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 19.76, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the transaction, the director now directly owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,497 shares of company stock valued at $20,837,150 over the last 90 days. Company insiders own 11.55% of the company’s stock.

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.