PFG Investments LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

PFG Investments LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 14.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 49,084 shares of the information services provider’s stock after buying an additional 6,237 shares during the period. Alphabet makes up approximately 1.2% of PFG Investments LLC’s holdings, making the stock its 11th largest holding. PFG Investments LLC’s holdings in Alphabet were worth $6,423,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. Northcape Wealth Management LLC purchased a new stake in Alphabet in the third quarter valued at about $208,000. Donoghue Forlines LLC increased its position in shares of Alphabet by 48.9% in the third quarter. Donoghue Forlines LLC now owns 15,680 shares of the information services provider’s stock valued at $2,052,000 after buying an additional 5,152 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Alphabet in the third quarter valued at approximately $1,732,000. Global Wealth Management Investment Advisory Inc. increased its position in shares of Alphabet by 1.5% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 23,346 shares of the information services provider’s stock worth $3,055,000 after purchasing an additional 343 shares in the last quarter. Finally, Parsons Capital Management Inc. RI increased its position in shares of Alphabet by 7.0% during the third quarter. Parsons Capital Management Inc. RI now owns 154,141 shares of the information services provider’s stock worth $20,171,000 after purchasing an additional 10,097 shares in the last quarter. Institutional investors own 35.08% of the company’s stock.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 420 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $133.32, for a total value of $55,994.40. Following the transaction, the chief accounting officer now directly owns 26,833 shares in the company, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 114,674 shares of company stock worth $16,162,276. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $145.54 on Thursday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $88.57 and a twelve month high of $153.78. The firm has a market cap of $1.82 trillion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The company has a 50-day moving average of $140.11 and a 200-day moving average of $135.36.

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, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter last year, the firm earned $1.05 earnings per share. Analysts forecast that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their price target on Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research note on Thursday, November 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Redburn Atlantic increased their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research raised their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Monness Crespi & Hardt downgraded Alphabet from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $153.65.

Check Out Our Latest Analysis on GOOGL

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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