Baldwin Wealth Partners LLC MA Sells 5,241 Shares of Alphabet Inc. $GOOGL

Baldwin Wealth Partners LLC MA lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 352,495 shares of the information services provider’s stock after selling 5,241 shares during the period. Alphabet comprises 5.6% of Baldwin Wealth Partners LLC MA’s portfolio, making the stock its 3rd largest holding. Baldwin Wealth Partners LLC MA’s holdings in Alphabet were worth $85,692,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hutchinson Financial Advisors INC grew its position in shares of Alphabet by 0.5% in the third quarter. Hutchinson Financial Advisors INC now owns 15,645 shares of the information services provider’s stock valued at $3,803,000 after purchasing an additional 80 shares during the period. Spartan Planning & Wealth Management boosted its stake in Alphabet by 78.4% in the 3rd quarter. Spartan Planning & Wealth Management now owns 10,121 shares of the information services provider’s stock worth $2,460,000 after buying an additional 4,449 shares during the last quarter. PFW Advisors LLC grew its holdings in Alphabet by 12.6% in the 3rd quarter. PFW Advisors LLC now owns 7,629 shares of the information services provider’s stock valued at $1,855,000 after buying an additional 856 shares during the period. Brighton Jones LLC grew its holdings in Alphabet by 3.3% in the 3rd quarter. Brighton Jones LLC now owns 115,949 shares of the information services provider’s stock valued at $28,187,000 after buying an additional 3,664 shares during the period. Finally, Foster Group Inc. increased its stake in shares of Alphabet by 1.8% during the 3rd quarter. Foster Group Inc. now owns 26,501 shares of the information services provider’s stock valued at $6,442,000 after acquiring an additional 464 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $313.51 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The stock’s 50-day moving average is $295.59 and its two-hundred day moving average is $238.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $3.78 trillion, a P/E ratio of 30.92, a PEG ratio of 1.81 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 226,128 shares of company stock worth $63,183,331. 11.64% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Arete Research boosted their target price on shares of Alphabet from $300.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Cantor Fitzgerald upped their price objective on Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a report on Wednesday, October 22nd. Finally, Evercore ISI upped their price target on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $315.90.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.