PFG Advisors Buys 15,327 Shares of Alphabet Inc. (NASDAQ:GOOG)

PFG Advisors increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 33.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,458 shares of the information services provider's stock after buying an additional 15,327 shares during the quarter. PFG Advisors' holdings in Alphabet were worth $9,602,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Concentrum Wealth Management increased its holdings in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after buying an additional 57 shares in the last quarter. JDM Financial Group LLC increased its holdings in shares of Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after buying an additional 57 shares in the last quarter. Kidder Stephen W increased its holdings in shares of Alphabet by 1.6% during the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after buying an additional 58 shares in the last quarter. Providence Wealth Advisors LLC increased its holdings in shares of Alphabet by 0.6% during the fourth quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after buying an additional 60 shares in the last quarter. Finally, Objectivity Squared LLC increased its holdings in shares of Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOG shares. Scotiabank raised their price objective on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Tuesday. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Pivotal Research raised their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,409 shares of company stock worth $43,523,710. Insiders own 12.99% of the company's stock.

Alphabet Trading Up 1.0%

Shares of NASDAQ GOOG traded up $1.83 during midday trading on Thursday, reaching $193.34. 38,408,297 shares of the stock were exchanged, compared to its average volume of 24,185,656. The business has a 50-day simple moving average of $175.77 and a two-hundred day simple moving average of $174.72. The company has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Profile

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.