PDS Planning Inc Raises Stake in Alphabet Inc. $GOOGL

PDS Planning Inc raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,134 shares of the information services provider’s stock after purchasing an additional 2,411 shares during the period. PDS Planning Inc’s holdings in Alphabet were worth $6,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC increased its holdings in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $256.55 on Tuesday. The stock has a fifty day moving average price of $232.66 and a 200 day moving average price of $192.92. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $257.33. 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 company has a market cap of $3.10 trillion, a PE ratio of 27.32, a P/E/G ratio of 1.71 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its 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 company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,150 shares of company stock valued at $55,805,379 over the last 90 days. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOOGL shares. Moffett Nathanson upped their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. BNP Paribas Exane restated a “neutral” rating and issued a $172.00 target price on shares of Alphabet in a report on Friday, June 27th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. JMP Securities boosted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.86.

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.