Alphabet Inc. (NASDAQ:GOOGL) is WESPAC Advisors SoCal LLC’s 10th Largest Position

WESPAC Advisors SoCal LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,594 shares of the information services provider’s stock after buying an additional 560 shares during the period. Alphabet makes up 3.0% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 10th biggest position. WESPAC Advisors SoCal LLC’s holdings in Alphabet were worth $11,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in Alphabet during the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors grew its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.4%

Shares of GOOGL stock opened at $196.53 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market cap of $2.38 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. The business’s fifty day moving average is $177.49 and its 200-day moving average is $173.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein raised their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Barclays increased their target price on Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Thursday, July 24th. 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $211.39.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,298 shares of company stock worth $43,505,967 over the last 90 days. Insiders own 11.64% of the company’s stock.

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.