Pasadena Private Wealth LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pasadena Private Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,022 shares of the information services provider’s stock after buying an additional 300 shares during the period. Pasadena Private Wealth LLC’s holdings in Alphabet were worth $1,519,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Bennett Selby Investments LP lifted its stake in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC lifted its stake in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. lifted its stake in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 53 shares during the period. Cornerstone Planning Group LLC raised its position in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the last quarter. Finally, Denver PWM LLC raised its position in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. Morgan Stanley cut their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Wedbush lifted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Bank of America restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Down 1.9 %

GOOGL opened at $167.01 on Tuesday. The stock has a market capitalization of $2.04 trillion, a PE ratio of 20.75, a P/E/G ratio of 1.34 and a beta of 0.99. The firm’s fifty day moving average price is $190.02 and its 200 day moving average price is $176.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,316 shares of company stock worth $25,062,887 over the last 90 days. Insiders own 11.55% of the company’s stock.

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.