Probity Advisors Inc. Buys 666 Shares of Alphabet Inc. $GOOG

Probity Advisors Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,565 shares of the information services provider’s stock after acquiring an additional 666 shares during the quarter. Probity Advisors Inc.’s holdings in Alphabet were worth $1,519,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. grew its holdings in Alphabet by 77.4% during the 2nd quarter. Mid American Wealth Advisory Group Inc. now owns 3,134 shares of the information services provider’s stock worth $556,000 after acquiring an additional 1,367 shares during the last quarter. LGT Financial Advisors LLC bought a new stake in Alphabet during the 2nd quarter worth approximately $37,000. VCI Wealth Management LLC grew its holdings in Alphabet by 11.4% during the 2nd quarter. VCI Wealth Management LLC now owns 38,248 shares of the information services provider’s stock worth $6,785,000 after acquiring an additional 3,909 shares during the last quarter. Klingman & Associates LLC grew its holdings in Alphabet by 1.9% during the 2nd quarter. Klingman & Associates LLC now owns 26,660 shares of the information services provider’s stock worth $4,729,000 after acquiring an additional 492 shares during the last quarter. Finally, Phoenix Financial Ltd. grew its holdings in Alphabet by 23.0% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,000,895 shares of the information services provider’s stock worth $177,541,000 after acquiring an additional 186,894 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.5%

NASDAQ:GOOG opened at $253.73 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $257.88. The firm’s fifty day moving average is $236.22 and its 200-day moving average is $195.53. The firm has a market cap of $3.07 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (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 company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock worth $55,805,379 in the last quarter. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOG shares. TD Cowen boosted their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Jefferies Financial Group upped their price objective on shares of Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $246.26.

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.