PFG Advisors Has $6.32 Million Position in Alphabet Inc. $GOOGL

PFG Advisors increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.8% during the 2nd quarter, Holdings Channel reports. The fund owned 35,866 shares of the information services provider’s stock after acquiring an additional 3,205 shares during the period. PFG Advisors’ holdings in Alphabet were worth $6,321,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Smart Money Group LLC raised its holdings in shares of Alphabet by 9.4% in the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock worth $956,000 after acquiring an additional 532 shares during the last quarter. Mayflower Financial Advisors LLC lifted its position in Alphabet by 3.3% in the 1st quarter. Mayflower Financial Advisors LLC now owns 40,533 shares of the information services provider’s stock valued at $6,268,000 after acquiring an additional 1,299 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in Alphabet by 2.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 74,335 shares of the information services provider’s stock valued at $11,495,000 after purchasing an additional 2,078 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $299.66 on Friday. The firm has a market cap of $3.62 trillion, a P/E ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. The firm has a 50-day moving average of $262.39 and a 200 day moving average of $213.06. 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 fifty-two week low of $140.53 and a fifty-two week high of $306.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.28%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $320.00 price objective (up from $245.00) on shares of Alphabet in a research note on Thursday, October 30th. Wells Fargo & Company increased their price target on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday, October 30th. HSBC raised their price objective on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. BNP Paribas Exane upped their target price on shares of Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Mizuho set a $325.00 price target on shares of Alphabet in a research report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $305.33.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 225,174 shares of company stock valued at $58,095,223. Company insiders own 11.64% of the company’s stock.

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.