Alphabet Inc. $GOOGL Shares Sold by Pennsylvania Capital Management Inc. ADV

Pennsylvania Capital Management Inc. ADV lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,090 shares of the information services provider's stock after selling 7,892 shares during the period. Alphabet comprises 1.2% of Pennsylvania Capital Management Inc. ADV's portfolio, making the stock its 17th largest holding. Pennsylvania Capital Management Inc. ADV's holdings in Alphabet were worth $3,717,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphabet by 11.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Invesco Ltd. increased its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock worth $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Deutsche Bank AG increased its position in Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock worth $6,153,481,000 after buying an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock worth $5,962,389,000 after acquiring an additional 104,859 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an "overweight" rating in a research note on Thursday. Guggenheim upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $201.00 price target on shares of Alphabet in a research note on Wednesday, September 24th. Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Melius Research upped their price objective on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $240.76.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the company's 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 sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last ninety days. Corporate insiders own 11.64% of the company's stock.

Alphabet Trading Up 2.1%

Shares of GOOGL opened at $250.43 on Tuesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The firm has a market capitalization of $3.03 trillion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. 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 fifty day simple moving average is $222.41 and its 200 day simple moving average is $186.72.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is 8.95%.

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.

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