Pacific Sage Partners LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Pacific Sage Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,789 shares of the information services provider’s stock after purchasing an additional 2,782 shares during the quarter. Alphabet comprises about 0.6% of Pacific Sage Partners LLC’s investment portfolio, making the stock its 25th largest position. Pacific Sage Partners LLC’s holdings in Alphabet were worth $2,435,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. M&G PLC purchased a new stake in Alphabet during the third quarter valued at $2,240,000. Coldstream Capital Management Inc. grew its holdings in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after purchasing an additional 4,292 shares during the last quarter. Requisite Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth about $927,000. Finally, Stevens Capital Management LP grew its holdings in Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after acquiring an additional 57,810 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $193.30 on Thursday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.37 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.32 and a beta of 1.00. The firm has a 50 day moving average of $191.88 and a two-hundred day moving average of $175.91.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOG. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by insiders.

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.