Pacific Global Investment Management Co. Sells 78 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pacific Global Investment Management Co. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,691 shares of the information services provider’s stock after selling 78 shares during the quarter. Pacific Global Investment Management Co.’s holdings in Alphabet were worth $2,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. FMR LLC increased its position in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after acquiring an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $634,465,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Alphabet during the third quarter valued at approximately $601,545,000. Finally, Lone Pine Capital LLC purchased a new stake in Alphabet in the third quarter worth $407,367,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now directly owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at approximately $391,132,665.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 276,511 shares of company stock worth $41,234,695 in the last three months. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOGL shares. Mizuho raised their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Sanford C. Bernstein lifted their target price on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. KeyCorp upped their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Oppenheimer lifted their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $190.60.

View Our Latest Report on Alphabet

Alphabet Price Performance

NASDAQ GOOGL opened at $176.06 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $176.26. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.00, a PEG ratio of 1.35 and a beta of 1.02. The company’s 50 day moving average is $157.22 and its two-hundred day moving average is $145.29.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio is presently 12.27%.

About Alphabet

(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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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