Pacer Advisors Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Pacer Advisors Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 491,486 shares of the information services provider’s stock after buying an additional 28,520 shares during the quarter. Pacer Advisors Inc.’s holdings in Alphabet were worth $93,599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Weiss Asset Management LP acquired a new stake in Alphabet during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC lifted its position in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new position in Alphabet in the fourth quarter valued at $76,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.1 %

NASDAQ:GOOG opened at $197.18 on Thursday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a fifty day moving average price of $188.64 and a two-hundred day moving average price of $175.20. The stock has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter last year, the business earned $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 122,887 shares of company stock worth $22,470,464. Company insiders own 12.99% of the company’s stock.

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.