PCG Wealth Advisors LLC Raises Holdings in Alphabet Inc. $GOOGL

PCG Wealth Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,475 shares of the information services provider’s stock after acquiring an additional 247 shares during the quarter. PCG Wealth Advisors LLC’s holdings in Alphabet were worth $789,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Bridgeway Capital Management LLC boosted its holdings in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after acquiring an additional 13,371 shares during the period. Alaethes Wealth LLC lifted its holdings in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. Moment Partners LLC lifted its holdings in Alphabet by 9.3% during the 2nd quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 504 shares in the last quarter. Welch Group LLC lifted its holdings in Alphabet by 4.0% during the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock worth $11,325,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management boosted its stake in Alphabet by 4.8% in the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock worth $1,312,000 after purchasing an additional 390 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group upped their price target on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. BNP Paribas Exane upped their target price on shares of Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Melius Research upped their target price on shares of Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. President Capital raised their price target on shares of Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group upped their price target on shares of Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred 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 $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 225,174 shares of company stock valued at $58,095,223. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $299.66 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $306.42. The company has a fifty day moving average of $262.39 and a 200-day moving average of $213.84. The company has a market capitalization of $3.62 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

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.