9,405 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by PCG Asset Management LLC

PCG Asset Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,405 shares of the information services provider’s stock, valued at approximately $1,791,000. Alphabet makes up 1.6% of PCG Asset Management LLC’s investment portfolio, making the stock its 19th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted its stake in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after purchasing an additional 51,226 shares during the last quarter. New England Capital Financial Advisors LLC grew its stake in shares of Alphabet by 13.3% during the third quarter. New England Capital Financial Advisors LLC now owns 632 shares of the information services provider’s stock worth $106,000 after buying an additional 74 shares during the last quarter. Lutz Financial Services LLC increased its holdings in shares of Alphabet by 9.8% during the third quarter. Lutz Financial Services LLC now owns 1,878 shares of the information services provider’s stock worth $314,000 after buying an additional 167 shares in the last quarter. National Pension Service lifted its stake in shares of Alphabet by 14.0% in the 3rd quarter. National Pension Service now owns 9,903,537 shares of the information services provider’s stock valued at $1,655,772,000 after acquiring an additional 1,218,671 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Alphabet by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 2,075,112 shares of the information services provider’s stock valued at $346,938,000 after acquiring an additional 11,458 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,316 shares of company stock worth $25,062,887. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Trading Up 2.3 %

NASDAQ GOOG opened at $172.61 on Wednesday. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 21.44, a P/E/G ratio of 1.34 and a beta of 1.00. The business has a 50 day simple moving average of $191.13 and a 200 day simple moving average of $177.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.