Pettinga Financial Advisors LLC Sells 1,640 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pettinga Financial Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 49.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,645 shares of the information services provider’s stock after selling 1,640 shares during the period. Pettinga Financial Advisors LLC’s holdings in Alphabet were worth $248,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GOOGL. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $15,441,917,000. Vanguard Group Inc. increased its position in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after acquiring an additional 6,010,548 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. Finally, Lone Pine Capital LLC bought a new stake in shares of Alphabet during the third quarter worth $407,367,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 123,788 shares of company stock worth $21,143,403 in the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $185.82 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.09. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 28.50, a P/E/G ratio of 1.39 and a beta of 1.05. The firm’s 50-day simple moving average is $174.46 and its 200 day simple moving average is $155.39.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the firm earned $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. BMO Capital Markets reissued an “outperform” rating and set a $215.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Wolfe Research increased their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Jefferies Financial Group increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Bank of America restated a “buy” rating and set a $200.00 target price on shares of Alphabet in a report on Tuesday, June 11th. Finally, Barclays increased their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $193.66.

Check Out Our Latest Stock Analysis on Alphabet

Alphabet Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.