PFG Advisors Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

PFG Advisors raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,600 shares of the information services provider’s stock after acquiring an additional 333 shares during the period. PFG Advisors’ holdings in Alphabet were worth $4,743,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. MorganRosel Wealth Management LLC raised its position in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC raised its holdings in shares of Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. First PREMIER Bank boosted its holdings in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the last quarter. Finally, MKT Advisors LLC grew its position in Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOGL. Tigress Financial raised their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Guggenheim boosted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Finally, Truist Financial lifted their target price on Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $162.78 on Thursday. The firm has a fifty day simple moving average of $161.87 and a two-hundred day simple moving average of $168.40. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 24.97, a PEG ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the firm posted $1.44 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

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.