Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 528,686 shares of the information services provider’s stock after selling 6,785 shares during the quarter. Pacer Advisors Inc.’s holdings in Alphabet were worth $96,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Nebula Research & Development LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $787,000. New Hampshire Trust boosted its position in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP increased its position in shares of Alphabet by 58.4% in the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares in the last quarter. Finally, American International Group Inc. lifted its position in shares of Alphabet by 11.5% during the 4th quarter. American International Group Inc. now owns 1,951,860 shares of the information services provider’s stock valued at $272,655,000 after buying an additional 200,891 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The disclosure for this sale can be found here. Insiders have sold a total of 217,592 shares of company stock valued at $35,922,911 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $165.86 on Friday. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business’s 50 day moving average is $162.06 and its two-hundred day moving average is $167.00. The firm has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the business posted $1.44 EPS. Research analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GOOGL shares. DA Davidson assumed coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price target on shares of Alphabet in a research report on Monday, September 16th. Rosenblatt Securities restated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.14.

About Alphabet

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.