Pflug Koory LLC Grows Stock Position in Alphabet Inc. $GOOGL

Pflug Koory LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,159 shares of the information services provider’s stock after purchasing an additional 869 shares during the quarter. Alphabet comprises approximately 1.0% of Pflug Koory LLC’s portfolio, making the stock its 19th biggest position. Pflug Koory LLC’s holdings in Alphabet were worth $1,967,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Mystic Asset Management Inc. lifted its holdings in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its holdings in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after acquiring an additional 80 shares during the period. Cypress Capital LLC lifted its holdings in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after acquiring an additional 563 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after acquiring an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC lifted its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $236.57 on Friday. The firm has a market capitalization of $2.86 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business’s 50-day simple moving average is $226.31 and its 200-day simple moving average is $188.66.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. Needham & Company LLC raised their target price on Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Jefferies Financial Group raised their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. BNP Paribas Exane reissued a “neutral” rating and issued a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. Royal Bank Of Canada raised their target price on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Finally, KeyCorp raised their price target on Alphabet from $230.00 to $265.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.88.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 11.64% of the company’s stock.

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.