Pacer Advisors Inc. Buys 23,333 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pacer Advisors Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 552,019 shares of the information services provider’s stock after buying an additional 23,333 shares during the quarter. Pacer Advisors Inc.’s holdings in Alphabet were worth $91,552,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP acquired a new position in shares of Alphabet during the third quarter worth approximately $32,000. Kings Path Partners LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $36,000. Denver PWM LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet during the second quarter worth approximately $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $172.64 on Friday. The business’s 50-day moving average price is $169.30 and its two-hundred day moving average price is $170.31. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The stock has a market cap of $2.11 trillion, a P/E ratio of 22.90, a PEG ratio of 1.21 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the firm posted $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,624 shares of company stock valued at $27,803,730. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Morgan Stanley upped their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Tigress Financial upped their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Finally, Truist Financial upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.90.

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.