PFG Advisors Has $4.74 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

PFG Advisors lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,600 shares of the information services provider’s stock after purchasing an additional 333 shares during the period. PFG Advisors’ holdings in Alphabet were worth $4,743,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the period. Capital Research Global Investors boosted its position in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. grew its stake in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after buying an additional 4,410,811 shares during the period. PineStone Asset Management Inc. increased its position in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock valued at $1,288,201,000 after buying an additional 4,170,229 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of brokerages have commented on GOOGL. Bank of America raised their price objective on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Citigroup boosted their target price on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Down 1.4 %

Shares of NASDAQ GOOGL opened at $162.78 on Thursday. 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 stock has a market capitalization of $2.01 trillion, a PE ratio of 24.97, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The business’s fifty day moving average price is $161.87 and its 200-day moving average price is $168.40.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

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.