Alphabet Inc. (NASDAQ:GOOGL) is Western Pacific Wealth Management LP’s 9th Largest Position

Western Pacific Wealth Management LP trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 14.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,072 shares of the information services provider’s stock after selling 3,447 shares during the quarter. Alphabet comprises approximately 2.2% of Western Pacific Wealth Management LP’s portfolio, making the stock its 9th largest holding. Western Pacific Wealth Management LP’s holdings in Alphabet were worth $3,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global Strategic Investment Solutions LLC grew its position in Alphabet by 3.5% in the third quarter. Global Strategic Investment Solutions LLC now owns 9,100 shares of the information services provider’s stock worth $1,509,000 after acquiring an additional 307 shares during the period. JB Capital LLC grew its holdings in shares of Alphabet by 1.3% during the 3rd quarter. JB Capital LLC now owns 49,365 shares of the information services provider’s stock worth $8,187,000 after purchasing an additional 645 shares during the period. Valley Brook Capital Group Inc. increased its position in shares of Alphabet by 13.0% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,021 shares of the information services provider’s stock worth $667,000 after purchasing an additional 463 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in Alphabet by 0.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 361,810 shares of the information services provider’s stock valued at $60,006,000 after buying an additional 1,916 shares during the period. Finally, Ascent Wealth Partners LLC boosted its stake in Alphabet by 32.8% during the third quarter. Ascent Wealth Partners LLC now owns 80,785 shares of the information services provider’s stock worth $13,398,000 after buying an additional 19,944 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at $5,136,807.48. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,295 shares of company stock valued at $30,698,791 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.2 %

GOOGL opened at $175.98 on Thursday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The firm has a 50 day moving average price of $167.23 and a 200 day moving average price of $170.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.15 trillion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the business earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOGL. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Citigroup raised their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

About Alphabet

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.