Pinion Investment Advisors LLC Boosts Holdings in Alphabet Inc. $GOOG

Pinion Investment Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 12.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,726 shares of the information services provider’s stock after purchasing an additional 187 shares during the period. Pinion Investment Advisors LLC’s holdings in Alphabet were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stiles Financial Services Inc lifted its holdings in Alphabet by 4.9% during the 2nd quarter. Stiles Financial Services Inc now owns 19,993 shares of the information services provider’s stock worth $3,547,000 after buying an additional 940 shares in the last quarter. Coordinated Financial Services Inc. purchased a new stake in shares of Alphabet during the second quarter worth $245,000. Vantage Point Financial LLC raised its stake in shares of Alphabet by 6.3% in the second quarter. Vantage Point Financial LLC now owns 3,761 shares of the information services provider’s stock valued at $667,000 after acquiring an additional 223 shares in the last quarter. IFP Advisors Inc boosted its holdings in Alphabet by 4.4% in the second quarter. IFP Advisors Inc now owns 81,349 shares of the information services provider’s stock valued at $14,438,000 after purchasing an additional 3,463 shares during the period. Finally, Trevian Wealth Management LLC grew its stake in Alphabet by 10.3% during the 2nd quarter. Trevian Wealth Management LLC now owns 9,112 shares of the information services provider’s stock worth $1,616,000 after purchasing an additional 849 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total transaction of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,338 shares of company stock valued at $59,062,683 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOG shares. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Mizuho upgraded shares of Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Scotiabank lifted their price target on shares of Alphabet from $200.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 22nd. Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, Jefferies Financial Group increased their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $241.00.

Alphabet Stock Down 1.9%

GOOG stock opened at $237.49 on Monday. The stock has a market cap of $2.87 trillion, a P/E ratio of 25.29, a PEG ratio of 1.60 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The company’s 50 day moving average is $226.97 and its two-hundred day moving average is $189.99.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. The company’s revenue was up 13.8% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is 8.95%.

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.