Petra Financial Advisors Inc. Has $1.48 Million Position in Alphabet Inc. $GOOGL

Petra Financial Advisors Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 115.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,724 shares of the information services provider’s stock after buying an additional 2,528 shares during the period. Petra Financial Advisors Inc.’s holdings in Alphabet were worth $1,479,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new position in Alphabet in the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet in the third quarter worth approximately $53,000. Kentucky Trust Co increased its holdings in Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Alphabet in the third quarter worth approximately $53,000. Finally, Corsicana & Co. acquired a new position in Alphabet in the third quarter worth approximately $54,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the sale, the chief executive officer directly owned 1,642,060 shares of the company’s stock, valued at approximately $505,573,853.40. This represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total value of $33,934.88. Following the completion of the sale, the director directly owned 18,418 shares of the company’s stock, valued at $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,069,794 shares of company stock valued at $104,854,147 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $341.68 on Monday. Alphabet Inc. has a 12 month low of $146.10 and a 12 month high of $349.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $306.82 and its two-hundred day moving average is $302.17. The company has a market cap of $4.13 trillion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio is currently 7.77%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $370.00 price objective on shares of Alphabet in a report on Wednesday, April 8th. New Street Research increased their price objective on Alphabet from $330.00 to $380.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Stifel Nicolaus dropped their price objective on Alphabet from $395.00 to $387.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Canaccord Genuity Group set a $415.00 price target on Alphabet in a report on Thursday, February 5th. Finally, China Renaissance increased their price target on Alphabet from $330.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $368.25.

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Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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