Pacifica Partners Inc. Has $507,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Pacifica Partners Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,380 shares of the information services provider’s stock after selling 125 shares during the period. Pacifica Partners Inc.’s holdings in Alphabet were worth $507,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new position in shares of Alphabet during the fourth quarter valued at $15,441,917,000. Vanguard Group Inc. raised its stake in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Alphabet during the third quarter valued at $601,545,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 146,374 shares of company stock worth $24,548,073. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 2.7 %

Alphabet stock opened at $184.03 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $184.29. The stock has a market cap of $2.27 trillion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The firm’s 50-day simple moving average is $171.13 and its 200 day simple moving average is $153.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the company earned $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Susquehanna lifted their target price on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. Rosenblatt Securities lifted their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus reissued a “buy” rating and set a $196.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $215.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Five equities 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. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $193.26.

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.