Pinkerton Retirement Specialists LLC Buys Shares of 2,171 Alphabet Inc. (NASDAQ:GOOGL)
Pinkerton Retirement Specialists LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission.
Pinkerton Retirement Specialists LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,171 shares of the information services provider's stock, valued at approximately $336,000.
Other hedge funds have also added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the first quarter worth $39,000. Elite Financial Inc. purchased a new position in shares of Alphabet in the first quarter valued at $42,000. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $49,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Alphabet in the first quarter valued at $49,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Up 0.7%
Shares of NASDAQ GOOGL opened at $191.34 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.33 and a beta of 1.00. The business's 50 day moving average is $172.90 and its two-hundred day moving average is $172.89.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm posted $1.89 EPS. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several recent research reports. Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Citigroup restated a "buy" rating and set a $203.00 price objective (up from $200.00) on shares of Alphabet in a report on Tuesday, June 24th. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Rosenblatt Securities reiterated a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Finally, Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $203.19.
Insider Buying and Selling at Alphabet
In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,409 shares of company stock valued at $43,523,710. Company insiders own 11.55% of the company's stock.
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.
