Parcion Private Wealth LLC Acquires 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Parcion Private Wealth LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,911 shares of the information services provider’s stock after buying an additional 100 shares during the quarter. Parcion Private Wealth LLC’s holdings in Alphabet were worth $2,827,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Capital International Investors boosted its holdings in shares of Alphabet by 9.3% in the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the period. Capital World Investors lifted its holdings in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock worth $6,963,128,000 after buying an additional 979,083 shares during the period. Capital Research Global Investors lifted its holdings in Alphabet by 2.0% during the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after buying an additional 684,968 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after buying an additional 636,008 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on GOOG shares. UBS Group lowered their target price on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Oppenheimer reduced their price target on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Finally, Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $186.90.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $166.99 on Friday. The business’s 50-day moving average is $163.35 and its two-hundred day moving average is $170.04. The company has a market capitalization of $2.06 trillion, a P/E ratio of 23.96, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

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.