Pegasus Asset Management Inc. Has $1.01 Million Stock Position in Alphabet Inc. $GOOGL

Pegasus Asset Management Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,726 shares of the information services provider’s stock after buying an additional 1,091 shares during the period. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $1,009,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Brighton Jones LLC increased its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. GAMMA Investing LLC increased its holdings in Alphabet by 10.5% in the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock worth $16,062,000 after purchasing an additional 9,900 shares in the last quarter. Heartland Bank & Trust Co increased its holdings in Alphabet by 16.7% in the 1st quarter. Heartland Bank & Trust Co now owns 45,083 shares of the information services provider’s stock worth $6,972,000 after purchasing an additional 6,444 shares in the last quarter. Finally, Shum Financial Group Inc. increased its holdings in Alphabet by 6.0% in the 1st quarter. Shum Financial Group Inc. now owns 8,718 shares of the information services provider’s stock worth $1,348,000 after purchasing an additional 496 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Piper Sandler upped their price target on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Oppenheimer upped their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Susquehanna upped their price target on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $259.12.

Alphabet Stock Up 0.6%

Shares of Alphabet stock opened at $253.08 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $257.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average is $235.60 and its 200 day moving average is $194.45. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

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.