Pettinga Financial Advisors LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Pettinga Financial Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,580 shares of the information services provider’s stock after buying an additional 1,160 shares during the quarter. Pettinga Financial Advisors LLC’s holdings in Alphabet were worth $1,915,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOG. JPMorgan Chase & Co. boosted its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Capital International Investors boosted its stake in Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after acquiring an additional 862,550 shares in the last quarter. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at $4,101,040,000. Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after acquiring an additional 481,376 shares in the last quarter. Finally, Sanders Capital LLC boosted its stake in Alphabet by 2.9% in the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after acquiring an additional 813,428 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 143,026 shares of company stock valued at $24,026,243. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOOG. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $167.86.

Alphabet Trading Up 0.5 %

NASDAQ GOOG opened at $184.32 on Monday. The stock has a market capitalization of $2.28 trillion, a P/E ratio of 28.13, a P/E/G ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.50. The firm has a 50-day moving average price of $174.40 and a 200 day moving average price of $155.84. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the company posted $1.17 earnings per share. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Alphabet Company 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.