Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,897.7% in the third quarter, HoldingsChannel.com reports. The firm owned 17,540 shares of the information services provider’s stock after acquiring an additional 16,662 shares during the quarter. Alphabet comprises 1.7% of Western Pacific Wealth Management LP’s holdings, making the stock its 10th largest position. Western Pacific Wealth Management LP’s holdings in Alphabet were worth $1,686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. OLD Second National Bank of Aurora lifted its position in Alphabet by 1,900.0% in the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% in the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. NewSquare Capital LLC lifted its position in Alphabet by 1,900.0% in the third quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 304 shares during the last quarter. Schubert & Co lifted its position in Alphabet by 1,192.9% in the third quarter. Schubert & Co now owns 362 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 334 shares during the last quarter. Finally, Corsicana & Co. lifted its position in Alphabet by 1,900.0% in the third quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research report on Monday, January 9th. JPMorgan Chase & Co. set a $115.00 target price on shares of Alphabet in a report on Wednesday, October 26th. Piper Sandler reduced their target price on shares of Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Cowen reduced their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Finally, Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.56.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the stock in a transaction dated Monday, October 24th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the stock in a transaction dated Monday, October 24th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares in the company, valued at $2,243,449.90. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 2.3 %

Shares of GOOG opened at $93.91 on Friday. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average is $93.47 and its two-hundred day moving average is $102.22. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The firm has a market capitalization of $1.22 trillion, a P/E ratio of 18.65, a PEG ratio of 1.63 and a beta of 1.08.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

About Alphabet

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.