Pettinga Financial Advisors LLC Purchases 87 Shares of Alphabet Inc. $GOOGL

Pettinga Financial Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,188 shares of the information services provider’s stock after purchasing an additional 87 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Alphabet were worth $386,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. BridgePort Financial Solutions LLC increased its position in Alphabet by 2.0% during the first quarter. BridgePort Financial Solutions LLC now owns 7,996 shares of the information services provider’s stock valued at $1,237,000 after acquiring an additional 159 shares during the last quarter. Petros Family Wealth LLC increased its position in Alphabet by 10.0% during the first quarter. Petros Family Wealth LLC now owns 4,744 shares of the information services provider’s stock valued at $734,000 after acquiring an additional 432 shares during the last quarter. Finally, LaFleur & Godfrey LLC increased its position in Alphabet by 7.4% during the first quarter. LaFleur & Godfrey LLC now owns 18,746 shares of the information services provider’s stock valued at $2,899,000 after acquiring an additional 1,298 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 2.7%

Shares of Alphabet stock opened at $259.92 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $261.68. The firm’s 50-day moving average is $236.72 and its two-hundred day moving average is $195.85. The stock has a market cap of $3.14 trillion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. BNP Paribas Exane boosted their price objective on shares of Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Guggenheim reaffirmed a “buy” rating and set a $280.00 target price (up previously from $210.00) on shares of Alphabet in a research note on Friday, October 17th. Mizuho set a $295.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Loop Capital upped their target price on Alphabet from $190.00 to $260.00 and gave the company a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company set a $236.00 target price on Alphabet and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.55.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.55% of the stock is currently owned by company insiders.

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.