Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pacific Wealth Strategies Group Inc.

Pacific Wealth Strategies Group Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.9% during the third quarter, Holdings Channel.com reports. The firm owned 22,652 shares of the information services provider’s stock after selling 1,413 shares during the quarter. Alphabet accounts for approximately 3.1% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 10th biggest position. Pacific Wealth Strategies Group Inc.’s holdings in Alphabet were worth $2,964,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the 1st quarter valued at $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $206,000. Eudaimonia Advisors LLC raised its position in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter valued at $281,000. 35.08% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $145.54 on Thursday. The stock has a market cap of $1.82 trillion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 1.33 and a beta of 1.06. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $88.57 and a 1-year high of $153.78. The stock’s 50-day moving average is $140.11 and its 200 day moving average is $135.36.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the firm posted $1.05 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the transaction, the director now directly owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the transaction, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The disclosure for this sale can be found here. Insiders have sold 114,674 shares of company stock valued at $16,162,276 in the last ninety days. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Morgan Stanley decreased their target price on Alphabet from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. Wells Fargo & Company raised their target price on Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research report on Thursday, November 16th. Barclays decreased their target price on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Truist Financial cut their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $153.65.

Check Out Our Latest Analysis on GOOGL

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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