Pinion Investment Advisors LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pinion Investment Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,712 shares of the information services provider’s stock after acquiring an additional 623 shares during the quarter. Alphabet accounts for approximately 1.3% of Pinion Investment Advisors LLC’s portfolio, making the stock its 17th largest holding. Pinion Investment Advisors LLC’s holdings in Alphabet were worth $3,164,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter valued at about $30,000. LMR Partners LLP bought a new stake in Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at about $39,000. Finally, PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Wedbush boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.62.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

GOOGL opened at $164.29 on Tuesday. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.41, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock’s 50 day simple moving average is $185.05 and its 200 day simple moving average is $176.58. Alphabet Inc. has a 1-year low of $146.08 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.