First Pacific Advisors LP Has $280.07 Million Stock Position in Alphabet Inc. $GOOG

First Pacific Advisors LP trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,578,827 shares of the information services provider’s stock after selling 20,427 shares during the quarter. Alphabet makes up approximately 4.0% of First Pacific Advisors LP’s holdings, making the stock its 9th biggest position. First Pacific Advisors LP’s holdings in Alphabet were worth $280,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ACT Advisors LLC. boosted its stake in Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the period. Moser Wealth Advisors LLC boosted its stake in Alphabet by 2.2% in the 2nd quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management boosted its stake in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Kooman & Associates boosted its stake in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after purchasing an additional 56 shares during the period. Finally, Greenup Street Wealth Management LLC boosted its stake in Alphabet by 0.5% in the 2nd quarter. Greenup Street Wealth Management LLC now owns 11,656 shares of the information services provider’s stock worth $2,068,000 after purchasing an additional 56 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 2.4%

Shares of GOOG opened at $281.90 on Friday. The company has a market cap of $3.41 trillion, a PE ratio of 27.80, a P/E/G ratio of 1.86 and a beta of 1.00. The business has a fifty day moving average of $243.09 and a 200 day moving average of $199.85. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $291.93. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Oppenheimer increased their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research report on Wednesday, July 9th. Cowen reiterated a “buy” rating on shares of Alphabet in a research report on Thursday. HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday. Finally, Mizuho set a $325.00 target price on Alphabet in a research report on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $324.81.

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.