Parcion Private Wealth LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Parcion Private Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,989 shares of the information services provider’s stock after buying an additional 78 shares during the period. Parcion Private Wealth LLC’s holdings in Alphabet were worth $3,235,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Pacific Sun Financial Corp grew its stake in shares of Alphabet by 2.3% in the fourth quarter. Pacific Sun Financial Corp now owns 2,838 shares of the information services provider’s stock worth $540,000 after purchasing an additional 65 shares during the last quarter. Dash Acquisitions Inc. boosted its position in shares of Alphabet by 4.2% in the 4th quarter. Dash Acquisitions Inc. now owns 165,709 shares of the information services provider’s stock worth $32,656,000 after purchasing an additional 6,742 shares in the last quarter. Citizens National Bank Trust Department boosted its position in shares of Alphabet by 0.4% in the 4th quarter. Citizens National Bank Trust Department now owns 99,648 shares of the information services provider’s stock worth $18,977,000 after purchasing an additional 423 shares in the last quarter. Zullo Investment Group Inc. raised its holdings in Alphabet by 0.3% in the 4th quarter. Zullo Investment Group Inc. now owns 19,497 shares of the information services provider’s stock worth $3,713,000 after acquiring an additional 65 shares during the last quarter. Finally, Able Wealth Management LLC raised its holdings in Alphabet by 11.7% in the 4th quarter. Able Wealth Management LLC now owns 2,738 shares of the information services provider’s stock worth $521,000 after acquiring an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 2.7 %

NASDAQ GOOG opened at $181.58 on Monday. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. 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 firm has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.34 and a beta of 1.00. The company’s 50 day moving average price is $194.02 and its 200 day moving average price is $177.45.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOG. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock worth $25,055,751 over the last ninety days. 12.99% of the stock is currently owned by corporate 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.