PCG Wealth Advisors LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

PCG Wealth Advisors LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,723 shares of the information services provider’s stock, valued at approximately $243,000.

A number of other large investors also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its holdings in shares of Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. FMR LLC increased its holdings in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. Morgan Stanley increased its holdings in shares of Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after buying an additional 19,612,974 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock opened at $156.00 on Wednesday. The business has a 50-day moving average of $146.95 and a 200-day moving average of $141.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 300 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 228,839 shares of company stock worth $32,835,757 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GOOG. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $159.86.

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.