Pacific Wealth Strategies Group Inc. Buys 144 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pacific Wealth Strategies Group Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,796 shares of the information services provider’s stock after acquiring an additional 144 shares during the period. Alphabet accounts for 3.0% of Pacific Wealth Strategies Group Inc.’s investment portfolio, making the stock its 11th largest holding. Pacific Wealth Strategies Group Inc.’s holdings in Alphabet were worth $3,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Meritage Group LP boosted its holdings in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Armor Investment Advisors LLC raised its position in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $55,000. Finally, LFA Lugano Financial Advisors SA raised its position in shares of Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after purchasing an additional 392 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on GOOGL shares. Raymond James upped their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Rosenblatt Securities upped their target price on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Robert W. Baird upped their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Barclays increased their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Up 0.7 %

GOOGL stock opened at $163.86 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $103.71 and a fifty-two week high of $174.71. The stock has a fifty day moving average of $149.22 and a 200-day moving average of $141.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.49%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 in the last quarter. 0.88% of the stock is owned by company insiders.

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.