Parcion Private Wealth LLC Buys 1,363 Shares of Alphabet Inc. $GOOG

Parcion Private Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% in the second quarter, Holdings Channel reports. The fund owned 18,352 shares of the information services provider’s stock after acquiring an additional 1,363 shares during the quarter. Parcion Private Wealth LLC’s holdings in Alphabet were worth $3,255,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares during the period. Robbins Farley grew its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC grew its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 61 shares during the period. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $26,000. Finally, Fairman Group LLC boosted its holdings in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOG opened at $260.51 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $262.51. 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 has a market capitalization of $3.15 trillion, a PE ratio of 27.74, a P/E/G ratio of 1.71 and a beta of 1.00. The company’s 50 day simple moving average is $237.33 and its two-hundred day simple moving average is $196.32.

Alphabet (NASDAQ:GOOG) last posted its 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 $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on GOOG shares. Pivotal Research raised their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 price objective on shares of Alphabet in a report on Wednesday, September 3rd. Finally, TD Cowen raised their price objective on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $249.68.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 103 shares of the stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. Company insiders own 12.99% of the company’s stock.

Alphabet 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.