Penn Davis Mcfarland Inc. Purchases 194 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Penn Davis Mcfarland Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 171,979 shares of the information services provider’s stock after purchasing an additional 194 shares during the period. Alphabet accounts for approximately 3.2% of Penn Davis Mcfarland Inc.’s investment portfolio, making the stock its 11th biggest position. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $28,523,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC bought a new position in Alphabet in the 1st quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in Alphabet during the second quarter worth $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the second quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Truist Financial increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. Argus boosted their target price on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley increased their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, DA Davidson initiated coverage on shares of Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Seven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Trading Up 2.8 %

Shares of NASDAQ:GOOGL opened at $174.46 on Thursday. The stock’s fifty day moving average price is $162.17 and its 200-day moving average price is $168.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market cap of $2.16 trillion, a P/E ratio of 26.76, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.65 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.