Pacer Advisors Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Pacer Advisors Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 491,486 shares of the information services provider's stock after purchasing an additional 28,520 shares during the period. Pacer Advisors Inc.'s holdings in Alphabet were worth $93,599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. boosted its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock valued at $42,000 after buying an additional 117 shares during the period. Iron Horse Wealth Management LLC grew its holdings in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider's stock worth $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in shares of Alphabet in the fourth quarter valued at about $76,000. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Alphabet stock traded up $5.45 during mid-day trading on Thursday, reaching $202.63. 14,431,761 shares of the company's stock traded hands, compared to its average volume of 16,167,780. The stock has a 50 day moving average of $189.03 and a two-hundred day moving average of $175.35. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.48 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.55 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.80.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,997 shares of company stock worth $22,492,464. Company insiders own 12.99% 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.