First Pacific Financial Acquires 659 Shares of Alphabet Inc. (NASDAQ:GOOG)

First Pacific Financial lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,301 shares of the information services provider’s stock after purchasing an additional 659 shares during the quarter. First Pacific Financial’s holdings in Alphabet were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Tolleson Wealth Management Inc. bought a new position in Alphabet in the 2nd quarter valued at $411,000. Westshore Wealth LLC raised its holdings in Alphabet by 31.2% during the 2nd quarter. Westshore Wealth LLC now owns 15,700 shares of the information services provider’s stock worth $1,887,000 after purchasing an additional 3,730 shares during the last quarter. Washington Trust Bank lifted its position in Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares during the period. Woodley Farra Manion Portfolio Management Inc. grew its position in shares of Alphabet by 20.0% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,986 shares of the information services provider’s stock worth $724,000 after buying an additional 996 shares during the period. Finally, CNB Bank lifted its holdings in Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after buying an additional 1,710 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.2 %

Shares of Alphabet stock opened at $151.94 on Thursday. Alphabet Inc. has a 1 year low of $100.28 and a 1 year high of $155.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business has a 50-day moving average of $144.57 and a two-hundred day moving average of $139.30. The company has a market capitalization of $1.89 trillion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares of the company’s stock, valued at $973,436.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total transaction of $28,698.00. Following the transaction, the director now directly owns 6,784 shares in the company, valued at $973,436.16. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold a total of 251,378 shares of company stock valued at $35,461,377 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOG. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $146.33.

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.