PACK Private Wealth LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

PACK Private Wealth LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,444 shares of the information services provider’s stock after selling 206 shares during the period. Alphabet comprises about 0.2% of PACK Private Wealth LLC’s investment portfolio, making the stock its 26th biggest position. PACK Private Wealth LLC’s holdings in Alphabet were worth $344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Tandem Wealth Advisors LLC bought a new position in Alphabet in the 3rd quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GOOG. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG traded up $3.15 on Tuesday, reaching $172.98. 21,087,028 shares of the company’s stock traded hands, compared to its average volume of 22,735,842. The stock has a market cap of $2.14 trillion, a PE ratio of 26.53, a P/E/G ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 12 month low of $105.79 and a 12 month high of $176.42. The stock has a 50-day simple moving average of $152.74 and a 200 day simple moving average of $144.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

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.