Pittenger & Anderson Inc. Has $42.21 Million Stock Position in Alphabet Inc. $GOOGL

Pittenger & Anderson Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,500 shares of the information services provider’s stock after selling 1,510 shares during the quarter. Alphabet accounts for 1.5% of Pittenger & Anderson Inc.’s portfolio, making the stock its 10th largest holding. Pittenger & Anderson Inc.’s holdings in Alphabet were worth $42,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of GOOGL. Brighton Jones LLC boosted its position in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Jag Capital Management LLC boosted its position in shares of Alphabet by 24.8% in the first quarter. Jag Capital Management LLC now owns 121,707 shares of the information services provider’s stock worth $18,821,000 after buying an additional 24,152 shares during the period. Mcdaniel Terry & Co. boosted its position in shares of Alphabet by 3.3% in the first quarter. Mcdaniel Terry & Co. now owns 15,007 shares of the information services provider’s stock worth $2,321,000 after buying an additional 479 shares during the period. Finally, Vista Investment Partners II LLC boosted its position in shares of Alphabet by 5.6% in the first quarter. Vista Investment Partners II LLC now owns 5,331 shares of the information services provider’s stock worth $824,000 after buying an additional 284 shares during the period. 40.03% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. Company insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada reissued a “buy” rating on shares of Alphabet in a research report on Thursday. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the company an “outperform” rating in a research report on Thursday, October 9th. Evercore ISI lifted their price objective on Alphabet from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on Alphabet from $236.00 to $268.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Citizens Jmp lifted their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $301.98.

Alphabet Price Performance

NASDAQ GOOGL opened at $281.31 on Friday. 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 stock’s 50-day moving average is $244.00 and its two-hundred day moving average is $199.68. The firm has a market cap of $3.40 trillion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet 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.