Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by Pettinga Financial Advisors LLC

by · The Markets Daily

Pettinga Financial Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,760 shares of the information services provider’s stock after selling 300 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Alphabet were worth $1,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. DC Investments Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at about $115,000. Guardian Wealth Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at about $184,000. Turim 21 Investimentos Ltda. lifted its holdings in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares during the last quarter. qPULA Trading Management LP acquired a new stake in shares of Alphabet during the 1st quarter valued at about $279,000. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Alphabet by 29.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the sale, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the sale, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $141.43, for a total value of $3,182,175.00. Following the sale, the chief executive officer now owns 2,407,688 shares in the company, valued at $340,519,313.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 167,219 shares of company stock worth $22,784,663. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James assumed coverage on Alphabet in a report on Wednesday, December 20th. They set an “outperform” rating and a $150.00 price target for the company. Oppenheimer restated an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $131.93.

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Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $137.39 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $136.01 and its two-hundred day moving average is $132.48. The company has a market cap of $1.72 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.23 and a beta of 1.06. Alphabet Inc. has a 12 month low of $85.57 and a 12 month high of $143.95.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. On average, equities analysts expect that Alphabet Inc. will post 5.83 EPS for the current year.

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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