PCG Asset Management LLC Has $1.44 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

PCG Asset Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,225 shares of the information services provider’s stock after selling 180 shares during the quarter. Alphabet makes up about 1.3% of PCG Asset Management LLC’s portfolio, making the stock its 20th biggest position. PCG Asset Management LLC’s holdings in Alphabet were worth $1,441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. JDM Financial Group LLC lifted its position in shares of Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 57 shares during the period. Objectivity Squared LLC lifted its position in shares of Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after buying an additional 62 shares during the last quarter. Tranquility Partners LLC lifted its position in shares of Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after buying an additional 63 shares during the last quarter. Stonebridge Financial Group LLC lifted its position in shares of Alphabet by 0.6% during the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock worth $1,664,000 after buying an additional 64 shares during the last quarter. Finally, True Wealth Design LLC lifted its position in shares of Alphabet by 28.5% during the 4th quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock worth $56,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 2.4%

GOOG stock opened at $202.11 on Monday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $181.90 and its 200-day moving average is $174.35. The firm has a market capitalization of $2.44 trillion, a PE ratio of 21.52, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 400 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares of the company’s stock, valued at $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 273,219 shares of company stock valued at $49,474,273. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOG shares. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Susquehanna reissued a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Oppenheimer restated an “outperform” rating and set a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $215.19.

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.