Pacific Sun Financial Corp Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Posted by Defense World Staff on Feb 28th, 2023

Pacific Sun Financial Corp lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,148.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,322 shares of the information services provider’s stock after purchasing an additional 2,136 shares during the quarter. Pacific Sun Financial Corp’s holdings in Alphabet were worth $223,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of GOOG. Financial Advisors Network Inc. grew its holdings in shares of Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its position in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the period. West Michigan Advisors LLC raised its position in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares during the period. Somerville Kurt F grew its stake in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC grew its stake in Alphabet by 1.4% in the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Oppenheimer upped their price target on Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Societe Generale cut their price objective on Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Raymond James boosted their price objective on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price objective on Alphabet in a research report on Friday, February 3rd. Finally, The Goldman Sachs Group set a $128.00 price objective on Alphabet in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $137.13.

Alphabet Trading Up 0.8 %

GOOG stock opened at $90.10 on Tuesday. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $144.16. The firm has a market cap of $1.15 trillion, a P/E ratio of 19.80, a P/E/G ratio of 1.23 and a beta of 1.08. The business’s 50 day moving average is $94.11 and its 200-day moving average is $98.82. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. During the same quarter in the prior year, the company posted $1.53 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Ann Mather sold 340 shares of the stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,583 shares of company stock worth $3,418,900. Company insiders own 12.99% of the company’s stock.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.