Pacific Point Advisors LLC Purchases Shares of 15,913 Alphabet Inc. (NASDAQ:GOOG)

Pacific Point Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,913 shares of the information services provider’s stock, valued at approximately $3,254,000. Alphabet accounts for 2.0% of Pacific Point Advisors LLC’s portfolio, making the stock its 8th largest holding.

Other large investors have also recently bought and sold shares of the company. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC grew its holdings in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after purchasing an additional 52 shares during the last quarter. Harrell Investment Partners LLC grew its holdings in shares of Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares during the last quarter. Ethos Financial Group LLC grew its holdings in shares of Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after purchasing an additional 53 shares during the last quarter. Finally, Hutchinson Capital Management CA lifted its stake in shares of Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after acquiring an additional 54 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 112,054 shares of company stock worth $17,722,605. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 1.1%

NASDAQ:GOOG opened at $171.98 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $2.09 trillion, a PE ratio of 21.36, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The stock has a 50-day simple moving average of $160.34 and a 200 day simple moving average of $176.63.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research reports. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp cut their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.94.

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.