Parcion Private Wealth LLC Has $12.17 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Parcion Private Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 166.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,284 shares of the information services provider’s stock after acquiring an additional 40,172 shares during the period. Alphabet accounts for 0.9% of Parcion Private Wealth LLC’s holdings, making the stock its 26th largest position. Parcion Private Wealth LLC’s holdings in Alphabet were worth $12,169,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GOOGL. O Brien Greene & Co. Inc grew its holdings in shares of Alphabet by 16.4% during the 4th quarter. O Brien Greene & Co. Inc now owns 5,763 shares of the information services provider’s stock worth $1,091,000 after purchasing an additional 813 shares in the last quarter. Able Wealth Management LLC lifted its position in Alphabet by 4.4% during the fourth quarter. Able Wealth Management LLC now owns 2,911 shares of the information services provider’s stock worth $551,000 after purchasing an additional 123 shares during the period. Boston Financial Mangement LLC grew its stake in Alphabet by 1.0% during the fourth quarter. Boston Financial Mangement LLC now owns 141,507 shares of the information services provider’s stock worth $26,787,000 after buying an additional 1,469 shares in the last quarter. First Bank & Trust increased its holdings in Alphabet by 1.3% in the 4th quarter. First Bank & Trust now owns 9,613 shares of the information services provider’s stock valued at $1,820,000 after buying an additional 123 shares during the period. Finally, RW Investment Management LLC raised its position in shares of Alphabet by 4.7% in the 4th quarter. RW Investment Management LLC now owns 2,741 shares of the information services provider’s stock valued at $519,000 after buying an additional 124 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOGL shares. DA Davidson lifted their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wedbush raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, KeyCorp raised their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Ten investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % 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 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,316 shares of company stock valued at $25,062,887 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of GOOGL opened at $170.92 on Wednesday. The business’s fifty day moving average is $189.52 and its 200 day moving average is $176.41. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.08 trillion, a P/E ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.