Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pacifica Partners Inc.

Pacifica Partners Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,380 shares of the information services provider’s stock after selling 125 shares during the period. Pacifica Partners Inc.’s holdings in Alphabet were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. RWQ Financial Management Services Inc. grew its holdings in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management grew its holdings in Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley grew its holdings in Alphabet by 0.8% in the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $787,000. Finally, Quantum Financial Advisors LLC grew its holdings in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOOGL. Needham & Company LLC boosted their price objective on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Rosenblatt Securities boosted their price objective on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. BMO Capital Markets reiterated an “outperform” rating and set a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Loop Capital boosted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.26.

Alphabet Stock Up 2.7 %

Alphabet stock opened at $184.03 on Wednesday. The company has a 50-day simple moving average of $171.13 and a 200-day simple moving average of $153.36. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 28.23, a P/E/G ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a one year low of $115.35 and a one year high of $184.29.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the firm earned $1.17 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,374 shares of company stock valued at $24,548,073. Company insiders own 11.55% of the company’s stock.

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.