Parcion Private Wealth LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Parcion Private Wealth LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 166.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 64,284 shares of the information services provider’s stock after acquiring an additional 40,172 shares during the quarter. Alphabet comprises 0.9% of Parcion Private Wealth LLC’s investment portfolio, making the stock its 26th biggest position. Parcion Private Wealth LLC’s holdings in Alphabet were worth $12,169,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC increased its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares during the last quarter. abrdn plc raised its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares in the last quarter. Olistico Wealth LLC lifted its holdings in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after acquiring an additional 746 shares during the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of Alphabet by 22.9% in the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after purchasing an additional 11,481 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOOGL. Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. KeyCorp increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. DA Davidson boosted their price target on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Performance

GOOGL opened at $170.92 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $2.08 trillion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The business has a fifty day simple moving average of $189.52 and a 200 day simple moving average of $176.41. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock worth $25,062,887 in the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Profile

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.