WESPAC Advisors SoCal LLC Acquires 1,746 Shares of Alphabet Inc. $GOOGL

WESPAC Advisors SoCal LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 76,340 shares of the information services provider’s stock after buying an additional 1,746 shares during the period. Alphabet accounts for approximately 3.0% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 8th largest holding. WESPAC Advisors SoCal LLC’s holdings in Alphabet were worth $13,453,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the 1st quarter worth about $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the 1st quarter worth about $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s 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 directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were 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 directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOGL shares. Canaccord Genuity Group lifted their price objective on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday. Mizuho set a $325.00 price objective on Alphabet in a research note on Thursday. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $300.00 price objective (up from $265.00) on shares of Alphabet in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $301.32.

Alphabet Stock Performance

Alphabet stock opened at $281.48 on Friday. The stock’s 50 day moving average price is $242.49 and its 200 day moving average price is $198.83. The firm has a market capitalization of $3.40 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

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.