Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Pettinga Financial Advisors LLC

Pettinga Financial Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,420 shares of the information services provider’s stock after buying an additional 660 shares during the period. Pettinga Financial Advisors LLC’s holdings in Alphabet were worth $1,609,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet in the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet in the 4th quarter worth about $26,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter worth about $26,000. Intrepid Capital Management Inc. purchased a new stake in Alphabet during the second quarter valued at about $31,000. Finally, Buck Wealth Strategies LLC acquired a new position in shares of Alphabet in the third quarter worth about $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $152.26 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50-day simple moving average of $144.75 and a 200 day simple moving average of $139.39. The stock has a market capitalization of $1.89 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a twelve month low of $100.29 and a twelve month high of $155.20.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter last year, the company earned $1.05 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOG. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $146.33.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 251,138 shares of company stock valued at $35,427,655 over the last ninety days. 12.99% 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.