Alphabet Inc. $GOOGL Shares Sold by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 49.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,902 shares of the information services provider’s stock after selling 16,622 shares during the period. Alphabet makes up 1.0% of Pinion Investment Advisors LLC’s portfolio, making the stock its 19th biggest position. Pinion Investment Advisors LLC’s holdings in Alphabet were worth $2,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter worth about $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.7%

Alphabet stock opened at $253.30 on Monday. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The firm’s 50 day moving average price is $231.55 and its two-hundred day moving average price is $192.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business 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, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research note on Tuesday, October 14th. JMP Securities increased their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a report on Friday, September 19th. Melius Research boosted their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Loop Capital restated a “hold” rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Canaccord Genuity Group increased their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $252.24.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last quarter. 11.55% of the stock is owned by company insiders.

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.