PFG Investments LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 208.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,480 shares of the information services provider's stock after buying an additional 49,631 shares during the quarter. Alphabet accounts for approximately 0.7% of PFG Investments LLC's investment portfolio, making the stock its 20th biggest holding. PFG Investments LLC's holdings in Alphabet were worth $11,188,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. grew its position in shares of Alphabet by 0.7% during the 3rd quarter. Everence Capital Management Inc. now owns 124,950 shares of the information services provider's stock valued at $16,475,000 after purchasing an additional 830 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. grew its position in shares of Alphabet by 15.0% during the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,808 shares of the information services provider's stock valued at $2,757,000 after purchasing an additional 2,580 shares in the last quarter. Essex LLC grew its position in shares of Alphabet by 6.3% during the 3rd quarter. Essex LLC now owns 29,660 shares of the information services provider's stock valued at $3,911,000 after purchasing an additional 1,768 shares in the last quarter. Capital Investment Advisors LLC grew its position in shares of Alphabet by 14.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 28,953 shares of the information services provider's stock valued at $3,817,000 after purchasing an additional 3,573 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC grew its position in shares of Alphabet by 1.1% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 22,332 shares of the information services provider's stock valued at $2,944,000 after purchasing an additional 234 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on GOOG. Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an "outperform" rating in a research report on Monday, April 8th. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, January 31st. Morgan Stanley reaffirmed an "overweight" rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Finally, Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, January 24th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of "Buy" and a consensus target price of $165.67.
Read Our Latest Stock Analysis on Alphabet
Alphabet Trading Up 10.0 %
Alphabet stock traded up $15.74 during mid-day trading on Friday, hitting $173.69. The company's stock had a trading volume of 56,500,787 shares, compared to its average volume of 18,324,858. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05. The business has a 50 day moving average price of $149.12 and a 200-day moving average price of $142.78. Alphabet Inc. has a 12 month low of $104.42 and a 12 month high of $176.42.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm's revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 6.8 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company's stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares of the company's stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 660 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company's stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock valued at $36,746,578 over the last three months. Insiders own 12.99% of the company's stock.
About Alphabet
(
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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