Pacer Advisors Inc. Sells 24,491 Shares of Alphabet Inc. $GOOG

Pacer Advisors Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 509,364 shares of the information services provider’s stock after selling 24,491 shares during the period. Pacer Advisors Inc.’s holdings in Alphabet were worth $159,838,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOG. Nolet Wealth Management LLC bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $730,000. Stone Wealth Partners bought a new position in Alphabet in the 4th quarter worth approximately $2,762,000. Clear Retirement Advice LLC bought a new position in Alphabet in the 4th quarter worth approximately $617,000. Arrow Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $30,745,000. Finally, Forthright Family Wealth Advisory LLC bought a new stake in Alphabet during the 4th quarter valued at $215,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $367.46 on Friday. The business has a 50-day moving average price of $364.31 and a two-hundred day moving average price of $331.07. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.45 trillion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. During the same period last year, the firm posted $2.81 EPS. Alphabet’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is 6.71%.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the sale, the director directly owned 18,721 shares of the company’s stock, valued at $7,132,701. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total transaction of $412,923.00. Following the sale, the director owned 2,531 shares of the company’s stock, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,516 shares of company stock worth $7,344,604 over the last 90 days. Insiders own 12.99% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a report on Monday, June 1st. TD Cowen upped their price target on Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, May 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $376.78.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.