Pittenger & Anderson Inc. Has $31.18 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pittenger & Anderson Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,301 shares of the information services provider’s stock after buying an additional 446 shares during the period. Alphabet comprises approximately 1.6% of Pittenger & Anderson Inc.’s investment portfolio, making the stock its 11th biggest holding. Pittenger & Anderson Inc.’s holdings in Alphabet were worth $31,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. DC Investments Management LLC bought a new stake in Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet in the first quarter valued at about $206,000. Eudaimonia Advisors LLC raised its position in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC bought a new position in shares of Alphabet in the first quarter valued at about $281,000. Institutional investors own 35.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup increased their price target on shares of Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Tigress Financial increased their price objective on Alphabet from $172.00 to $176.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, November 21st. Wolfe Research increased their price objective on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.86.

View Our Latest Stock Report on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $129.08, for a total transaction of $54,859.00. Following the completion of the transaction, the chief accounting officer now owns 26,413 shares in the company, valued at approximately $3,409,390.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total value of $9,831,750.00. Following the transaction, the director now owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $129.08, for a total value of $54,859.00. Following the sale, the chief accounting officer now owns 26,413 shares in the company, valued at approximately $3,409,390.04. The disclosure for this sale can be found here. Insiders have sold 189,439 shares of company stock worth $25,954,116 over the last ninety days. Insiders own 0.88% of the company’s stock.

Alphabet Trading Down 7.5 %

GOOGL opened at $140.10 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78. The firm has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.35 and a beta of 1.05. The company’s 50 day moving average price is $139.45 and its two-hundred day moving average price is $134.61.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 5.77 earnings per share for the current year.

About Alphabet

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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