Probity Advisors Inc. Purchases 505 Shares of Alphabet Inc. $GOOGL

Probity Advisors Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,100 shares of the information services provider’s stock after purchasing an additional 505 shares during the quarter. Probity Advisors Inc.’s holdings in Alphabet were worth $1,604,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. bought a new stake in Alphabet during the first quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new stake in Alphabet during the first quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter worth about $39,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last three months. 11.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOGL shares. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. HSBC increased their price objective on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley increased their price objective on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America increased their price objective on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald increased their price objective on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $301.98.

Alphabet Stock Down 0.1%

NASDAQ GOOGL opened at $281.31 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $244.00 and its two-hundred day moving average is $199.68. The company has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $291.59.

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

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.