PKO Investment Management Joint Stock Co Has $28.20 Million Stock Position in Alphabet Inc. $GOOGL

PKO Investment Management Joint Stock Co grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,000 shares of the information services provider’s stock after acquiring an additional 15,000 shares during the quarter. Alphabet comprises 3.0% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 6th largest holding. PKO Investment Management Joint Stock Co’s holdings in Alphabet were worth $28,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. Gimbal Financial grew its holdings in Alphabet by 1.9% during the second quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after buying an additional 53 shares in the last quarter. Missouri Trust & Investment Co grew its holdings in Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after buying an additional 55 shares in the last quarter. AM Investment Strategies LLC grew its holdings in Alphabet by 0.9% during the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after buying an additional 57 shares in the last quarter. Bfsg LLC grew its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after buying an additional 59 shares in the last quarter. Finally, Financial Council LLC boosted its position in Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 190,896 shares of company stock worth $45,092,175 in the last three months. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on GOOGL shares. The Goldman Sachs Group boosted their price objective on Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Morgan Stanley boosted their price objective on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Truist Financial upped their price objective on Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Tigress Financial upped their price objective on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $303.09.

Alphabet Stock Performance

Shares of GOOGL opened at $277.54 on Wednesday. The stock’s 50-day simple moving average is $246.91 and its 200 day simple moving average is $202.13. The stock has a market capitalization of $3.36 trillion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (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 analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS 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.