Pacific Point Advisors LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

Pacific Point Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,696 shares of the information services provider's stock, valued at approximately $350,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Compass Planning Associates Inc purchased a new stake in Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $39,000. PayPay Securities Corp increased its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. UBS Group set a $195.00 price objective on Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald dropped their price target on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Westpark Capital restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,054 shares of company stock worth $17,722,605 over the last ninety days. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Up 1.4%

Shares of NASDAQ GOOGL opened at $170.87 on Friday. The stock has a market cap of $2.07 trillion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business's fifty day simple moving average is $158.42 and its 200-day simple moving average is $174.89.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the firm earned $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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.

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