Parcion Private Wealth LLC Has $17 Million Holdings in Alphabet Inc. $GOOGL

Parcion Private Wealth LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 46.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,486 shares of the information services provider’s stock after acquiring an additional 30,497 shares during the quarter. Alphabet makes up approximately 0.9% of Parcion Private Wealth LLC’s holdings, making the stock its 19th largest holding. Parcion Private Wealth LLC’s holdings in Alphabet were worth $17,004,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOGL. Gimbal Financial boosted its position in Alphabet by 1.9% in the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co lifted its holdings in shares of Alphabet by 0.3% during the second 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 during the period. AM Investment Strategies LLC raised its stake in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares during the last quarter. Bfsg LLC raised its stake in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares during the last quarter. Finally, Financial Council LLC raised its stake in Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $281.31 on Friday. 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 fifty-two week low of $140.53 and a fifty-two week high of $291.59. The firm’s fifty day moving average price is $244.00 and its 200-day moving average price is $199.98. The stock has a market cap of $3.40 trillion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup reaffirmed a “buy” rating and issued a $343.00 price objective (up from $280.00) on shares of Alphabet in a research report on Thursday. Cantor Fitzgerald upped their price objective on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday. New Street Research boosted their target price on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Finally, Needham & Company LLC boosted their target price on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $302.20.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. Insiders own 11.64% of the company’s stock.

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.