Pasadena Private Wealth LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Pasadena Private Wealth LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,983 shares of the information services provider’s stock after purchasing an additional 252 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Alphabet were worth $1,125,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. DC Investments Management LLC purchased a new stake in Alphabet during the first quarter valued at about $115,000. Guardian Wealth Management Inc. acquired a new stake in Alphabet during the first quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. raised its stake in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $279,000. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Alphabet by 29.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after purchasing an additional 26 shares during the period. 27.13% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $6.31 during trading hours on Monday, hitting $148.48. 47,650,334 shares of the company’s stock were exchanged, compared to its average volume of 23,856,197. Alphabet Inc. has a 1-year low of $100.28 and a 1-year high of $155.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.33 and a beta of 1.05. The company’s 50-day moving average price is $143.64 and its 200-day moving average price is $138.64.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 13.5% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,159 shares of company stock worth $39,220,185. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $146.33.

Alphabet Company 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.