Alphabet Inc. (NASDAQ:GOOG) is Pegasus Asset Management Inc.’s 5th Largest Position

Pegasus Asset Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,830 shares of the information services provider’s stock after selling 638 shares during the quarter. Alphabet makes up about 3.8% of Pegasus Asset Management Inc.’s investment portfolio, making the stock its 5th biggest position. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $10,003,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOG. Abich Financial Wealth Management LLC grew its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter worth $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP acquired a new position in shares of Alphabet during the second quarter worth $44,000. Finally, Hoese & Co LLP boosted its stake in shares of Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $166.82 on Wednesday. The stock has a 50-day moving average price of $163.23 and a 200 day moving average price of $169.96. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $121.46 and a 12 month high of $193.31. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the business earned $1.44 EPS. The firm’s revenue was up 13.6% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 7.64 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GOOG shares. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Pivotal Research assumed coverage on Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. UBS Group decreased their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $186.90.

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.