Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Pacific Wealth Strategies Group Inc.

Pacific Wealth Strategies Group Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,930 shares of the information services provider's stock after purchasing an additional 5,045 shares during the quarter. Alphabet comprises approximately 3.3% of Pacific Wealth Strategies Group Inc.'s portfolio, making the stock its 11th largest holding. Pacific Wealth Strategies Group Inc.'s holdings in Alphabet were worth $4,466,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet in the second quarter valued at $36,000. Denver PWM LLC bought a new position in Alphabet in the second quarter valued at $41,000. CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Quarry LP bought a new position in Alphabet in the second quarter valued at $53,000. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 700 shares of the company's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the completion of the sale, the director now owns 29,324 shares in the company, valued at $4,838,460. This represents a 2.33 % 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, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 207,495 shares of company stock worth $34,586,641 over the last 90 days. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $190.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Guggenheim increased their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Citigroup increased their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $205.90.

Alphabet Stock Down 1.8 %

Shares of GOOGL stock traded down $3.30 during trading on Thursday, reaching $175.58. The company's stock had a trading volume of 30,994,235 shares, compared to its average volume of 27,120,920. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.29 and a beta of 1.03. The stock's 50-day moving average price is $164.82 and its 200 day moving average price is $170.04. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet's dividend payout ratio is currently 10.61%.

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.