Cornell Pochily Investment Advisors Inc. Has $2.32 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cornell Pochily Investment Advisors Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,970 shares of the information services provider’s stock after acquiring an additional 792 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Alphabet were worth $2,315,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. FMR LLC raised its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Norges Bank acquired a new position in Alphabet in the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD increased its stake in Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after buying an additional 7,574,417 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Finally, Northern Trust Corp increased its stake in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOGL shares. Roth Mkm reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Jefferies Financial Group dropped their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company upped their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, April 25th. Finally, DA Davidson decreased their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Price Performance

NASDAQ:GOOGL opened at $176.77 on Tuesday. The stock has a market cap of $2.15 trillion, a P/E ratio of 21.96, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a fifty day moving average price of $163.53 and a 200 day moving average price of $174.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the prior year, the company earned $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,570 shares of company stock worth $32,003,532. 11.64% of the stock is currently owned by corporate insiders.

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.