Pacifica Capital Investments LLC Sells 39,055 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pacifica Capital Investments LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 52.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,249 shares of the information services provider’s stock after selling 39,055 shares during the period. Alphabet accounts for approximately 2.2% of Pacifica Capital Investments LLC’s investment portfolio, making the stock its 6th biggest position. Pacifica Capital Investments LLC’s holdings in Alphabet were worth $6,713,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sterling Financial Planning Inc. increased its holdings in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC increased its holdings in shares of Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares during the last quarter. Harrell Investment Partners LLC increased its holdings in shares of Alphabet by 0.9% in the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the last quarter. Ethos Financial Group LLC increased its holdings in shares of Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after purchasing an additional 53 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its position in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after acquiring an additional 54 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.7 %

GOOG opened at $166.25 on Monday. The company’s 50 day moving average is $184.37 and its 200-day moving average is $178.22. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.03 trillion, a P/E ratio of 20.65, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.

About Alphabet

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.