Pasadena Private Wealth LLC Has $853,000 Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pasadena Private Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,464.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,923 shares of the information services provider’s stock after purchasing an additional 8,575 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Alphabet were worth $853,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bornite Capital Management LP acquired a new stake in shares of Alphabet in the first quarter valued at approximately $16,688,000. Markel Corp raised its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank raised its position in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $96.11 on Thursday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.25 and a beta of 1.09. The firm’s 50-day moving average is $94.51 and its 200 day moving average is $96.29. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the previous year, the company earned $1.53 EPS. Research analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial lowered their price objective on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Bank of America boosted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Morgan Stanley boosted their price objective on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Mizuho cut their price target on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Finally, Barclays upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Five research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $132.32.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold 36,745 shares of company stock worth $3,424,078 over the last 90 days. 11.44% of the stock is currently owned by company insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.