Parcion Private Wealth LLC Has $10.21 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Parcion Private Wealth LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,989 shares of the information services provider's stock after acquiring an additional 1,705 shares during the period. Alphabet accounts for approximately 0.8% of Parcion Private Wealth LLC's investment portfolio, making the stock its 26th biggest position. Parcion Private Wealth LLC's holdings in Alphabet were worth $10,205,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $24,383,677,000. FMR LLC lifted its holdings in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp boosted its holdings in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors increased its holdings in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday. Royal Bank Of Canada boosted their target price on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Thursday. Piper Sandler increased their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a report on Thursday. Bank of America upped their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company raised their target price on shares of Alphabet from $177.00 to $184.00 and gave the stock an "equal weight" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.32.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 over the last three months. Insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $1.94 during midday trading on Thursday, reaching $192.17. 74,740,490 shares of the company traded hands, compared to its average volume of 39,272,972. The company has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.33 and a beta of 1.00. The stock has a 50-day moving average price of $175.23 and a 200 day moving average price of $173.10. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.