WESPAC Advisors SoCal LLC Sells 8,143 Shares of Alphabet Inc. (NASDAQ:GOOGL)

WESPAC Advisors SoCal LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 84,692 shares of the information services provider’s stock after selling 8,143 shares during the period. Alphabet accounts for about 3.2% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 11th biggest position. WESPAC Advisors SoCal LLC’s holdings in Alphabet were worth $14,046,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Alphabet by 70.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after acquiring an additional 41,880 shares during the period. Quent Capital LLC lifted its stake in Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock worth $4,705,000 after purchasing an additional 1,072 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in Alphabet by 48.3% in the 1st quarter. Icon Wealth Advisors LLC now owns 36,531 shares of the information services provider’s stock valued at $5,514,000 after purchasing an additional 11,898 shares during the period. Windacre Partnership LLC grew its position in shares of Alphabet by 23.6% during the 1st quarter. Windacre Partnership LLC now owns 11,147,000 shares of the information services provider’s stock valued at $1,682,417,000 after purchasing an additional 2,125,500 shares in the last quarter. Finally, Oxford Wealth Group LLC purchased a new position in shares of Alphabet during the 1st quarter valued at $2,529,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 206,795 shares of company stock valued at $34,673,866. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GOOGL shares. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Performance

GOOGL opened at $168.95 on Friday. The stock has a market cap of $2.07 trillion, a PE ratio of 22.41, a P/E/G ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock’s 50 day simple moving average is $168.47 and its 200-day simple moving average is $170.33. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 10.61%.

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.