Pacific Wealth Strategies Group Inc. Has $6.01 Million Stock Holdings in Alphabet Inc. $GOOGL

Pacific Wealth Strategies Group Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,291 shares of the information services provider’s stock after purchasing an additional 4,030 shares during the quarter. Alphabet accounts for 4.0% of Pacific Wealth Strategies Group Inc.’s holdings, making the stock its 9th largest position. Pacific Wealth Strategies Group Inc.’s holdings in Alphabet were worth $6,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Gimbal Financial increased its stake in Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co grew its holdings in shares of Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares in the last quarter. Silver Coast Investments LLC grew its holdings in shares of Alphabet by 1.3% during the 2nd quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its position in shares of Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after purchasing an additional 57 shares during the period. Finally, Bfsg LLC raised its stake in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $276.41 on Friday. The company’s 50 day moving average price is $257.24 and its two-hundred day moving average price is $208.93. The firm has a market capitalization of $3.34 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $292.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 221,796 shares of company stock valued at $53,983,001. 11.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wolfe Research restated an “outperform” rating and issued a $350.00 target price (up from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. CICC Research increased their price target on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Melius Research boosted their price objective on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $304.10.

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.