Pacifica Capital Investments LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Pacifica Capital Investments LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 25.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 219,617 shares of the information services provider’s stock after selling 75,595 shares during the period. Alphabet accounts for about 9.2% of Pacifica Capital Investments LLC’s portfolio, making the stock its 4th largest position. Pacifica Capital Investments LLC’s holdings in Alphabet were worth $30,951,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOG. Norges Bank acquired a new stake in Alphabet in the 4th quarter worth approximately $4,101,040,000. JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. International Assets Investment Management LLC acquired a new stake in Alphabet during the 4th quarter valued at approximately $11,600,970,000. FMR LLC lifted its stake in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the period. Finally, Cerity Partners LLC lifted its stake in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,935 shares of company stock valued at $31,178,987. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.9 %

GOOG stock traded down $1.54 during mid-day trading on Wednesday, hitting $178.00. 16,166,334 shares of the company were exchanged, compared to its average volume of 22,095,998. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.20 trillion, a P/E ratio of 27.16, a PEG ratio of 1.32 and a beta of 1.02. The business has a fifty day simple moving average of $160.23 and a 200-day simple moving average of $147.39. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $179.95.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.7 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Analysts Set New Price Targets

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

About Alphabet

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.