Pegasus Partners Ltd. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Pegasus Partners Ltd. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 6.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,567 shares of the information services provider’s stock after buying an additional 1,757 shares during the quarter. Alphabet accounts for approximately 0.6% of Pegasus Partners Ltd.’s investment portfolio, making the stock its 29th largest position. Pegasus Partners Ltd.’s holdings in Alphabet were worth $4,000,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Live Oak Investment Partners bought a new position in Alphabet during the 4th quarter valued at about $26,000. VitalStone Financial LLC boosted its position in shares of Alphabet by 1,900.0% during the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after buying an additional 266 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet in the third quarter worth approximately $38,000. Finally, Macroview Investment Management LLC lifted its stake in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Tigress Financial upped their price objective on Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 21st. KeyCorp boosted their price objective on shares of Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Wolfe Research increased their price target on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Barclays dropped their target price on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.65.

Read Our Latest Report on Alphabet

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider John Kent Walker sold 48,076 shares of Alphabet stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the transaction, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the transaction, the senior vice president now owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The disclosure for this sale can be found here. In the last quarter, insiders sold 207,800 shares of company stock worth $29,529,164. Insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $137.14 on Friday. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 23.64, a PEG ratio of 1.28 and a beta of 1.06. Alphabet Inc. has a 12 month low of $89.42 and a 12 month high of $153.78. The company has a 50 day simple moving average of $142.81 and a two-hundred day simple moving average of $136.85. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Alphabet Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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