Cornell Pochily Investment Advisors Inc. Has $2.32 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Cornell Pochily Investment Advisors Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the first quarter, HoldingsChannel reports. The firm owned 14,970 shares of the information services provider’s stock after purchasing an additional 792 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in Alphabet were worth $2,315,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOGL. FMR LLC grew its holdings in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the 4th quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD grew its holdings in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors grew its holdings in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GOOGL. Wedbush set a $190.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Cantor Fitzgerald reduced their target price on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein raised their target price on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Stock Performance

Shares of GOOGL stock opened at $176.77 on Tuesday. The company’s fifty day simple moving average is $163.53 and its 200-day simple moving average is $174.74. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.15 trillion, a PE ratio of 21.96, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

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.