Pegasus Asset Management Inc. Has $789,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Pegasus Asset Management Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,755 shares of the information services provider’s stock after selling 340 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. SG Americas Securities LLC lifted its holdings in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. boosted its position in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the period. PineStone Asset Management Inc. grew its stake in shares of Alphabet by 143.7% in the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after acquiring an additional 4,170,229 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GOOGL shares. Argus raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Guggenheim raised their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday. Bank of America increased their price target on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,244 shares of company stock valued at $37,776,954. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.1 %

GOOGL stock opened at $171.29 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 1.95. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.29 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $126.93 and a fifty-two week high of $191.75. The stock has a fifty day moving average of $162.43 and a 200-day moving average of $168.91.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 7.85 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

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.