Pin Oak Investment Advisors Inc. Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pin Oak Investment Advisors Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,946 shares of the information services provider’s stock after acquiring an additional 81 shares during the period. Alphabet makes up 2.1% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 11th biggest position. Pin Oak Investment Advisors Inc.’s holdings in Alphabet were worth $2,312,000 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 company. Vinva Investment Management Ltd boosted its position in shares of Alphabet by 12.8% in the third quarter. Vinva Investment Management Ltd now owns 288,771 shares of the information services provider’s stock worth $47,344,000 after buying an additional 32,787 shares during the period. Financial Counselors Inc. raised its stake in Alphabet by 3.1% during the third quarter. Financial Counselors Inc. now owns 729,894 shares of the information services provider’s stock valued at $121,053,000 after buying an additional 22,102 shares in the last quarter. Noesis Capital Mangement Corp raised its position in shares of Alphabet by 9.4% during the 3rd quarter. Noesis Capital Mangement Corp now owns 29,445 shares of the information services provider’s stock worth $4,883,000 after purchasing an additional 2,533 shares during the period. Fiduciary Trust Co raised its position in shares of Alphabet by 2.4% during the 3rd quarter. Fiduciary Trust Co now owns 743,446 shares of the information services provider’s stock worth $123,301,000 after purchasing an additional 17,159 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP bought a new position in Alphabet in the 3rd quarter worth approximately $17,523,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 4.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares in the company, valued at approximately $4,385,565. This represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock valued at $34,244,676 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. Wedbush reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.03.

Alphabet Price Performance

GOOGL opened at $185.17 on Wednesday. The company has a fifty day moving average price of $169.70 and a two-hundred day moving average price of $170.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $191.75. The firm has a market capitalization of $2.27 trillion, a PE ratio of 24.56, a P/E/G ratio of 1.24 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 10.61%.

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.