Alphabet Inc. (NASDAQ:GOOGL) Holdings Increased by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2,265.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,906 shares of the information services provider’s stock after purchasing an additional 17,149 shares during the period. Alphabet makes up about 1.7% of Western Pacific Wealth Management LP’s investment portfolio, making the stock its 9th largest holding. Western Pacific Wealth Management LP’s holdings in Alphabet were worth $1,712,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System bought a new position in shares of Alphabet during the 3rd quarter valued at $55,305,000. Griffin Asset Management Inc. lifted its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares during the period. Farmers Trust Co. lifted its holdings in shares of Alphabet by 2.2% during the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after buying an additional 129 shares during the period. Ziegler Capital Management LLC lifted its holdings in shares of Alphabet by 62.3% during the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after buying an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after buying an additional 6,137 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $98.02 on Monday. The company has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.09. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $151.55. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $93.03 and a 200 day moving average of $101.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The business had revenue of $57.27 billion during the quarter, compared to the consensus estimate of $58.36 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. During the same period last year, the firm earned $1.40 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the transaction, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total value of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 280 shares of Alphabet stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total transaction of $28,904.40. Following the completion of the transaction, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOOGL shares. Truist Financial lowered their price target on Alphabet from $136.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, October 26th. Credit Suisse Group lowered their price target on Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, October 26th. Evercore ISI lowered their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Bank of America decreased their target price on Alphabet from $125.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, October 4th. Finally, StockNews.com assumed coverage on Alphabet in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $132.13.

About Alphabet

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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