Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Western Pacific Wealth Management LP

Western Pacific Wealth Management LP lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,131 shares of the information services provider’s stock after selling 126 shares during the period. Alphabet makes up approximately 2.9% of Western Pacific Wealth Management LP’s investment portfolio, making the stock its 11th largest position. Western Pacific Wealth Management LP’s holdings in Alphabet were worth $3,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harrell Investment Partners LLC increased its holdings in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after acquiring an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after acquiring an additional 54 shares during the last quarter. Investment Advisory Group LLC increased its holdings in shares of Alphabet by 0.7% during the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after acquiring an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its holdings in shares of Alphabet by 4.6% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock valued at $243,000 after acquiring an additional 56 shares during the last quarter. Finally, Sunburst Financial Group LLC increased its holdings in shares of Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $193.30 on Thursday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The firm has a market capitalization of $2.37 trillion, a PE ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00. The business’s 50 day moving average is $191.88 and its 200-day moving average is $175.91. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 in the last 90 days. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on GOOG shares. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Company 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.