Pacific Sun Financial Corp Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Pacific Sun Financial Corp lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,838 shares of the information services provider’s stock after purchasing an additional 65 shares during the quarter. Pacific Sun Financial Corp’s holdings in Alphabet were worth $540,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GOOG. Sterling Financial Planning Inc. increased its holdings in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC increased its holdings in shares of Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares during the period. Harrell Investment Partners LLC increased its holdings in shares of Alphabet by 0.9% in the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the period. Finally, Tempus Wealth Planning LLC increased its holdings in shares of Alphabet by 1.7% in the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after purchasing an additional 55 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank upped their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock worth $25,055,751 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 2.7 %

GOOG opened at $181.58 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The business’s fifty day moving average is $194.02 and its two-hundred day moving average is $177.45. The company has a market cap of $2.21 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is currently 9.94%.

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.