Alphabet Inc. $GOOGL Position Increased by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 160,000 shares of the information services provider’s stock after acquiring an additional 15,000 shares during the quarter. Alphabet accounts for approximately 3.0% of PKO Investment Management Joint Stock Co’s investment portfolio, making the stock its 6th largest holding. PKO Investment Management Joint Stock Co’s holdings in Alphabet were worth $28,197,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Brighton Jones LLC increased its position in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Rovin Capital UT ADV increased its position in shares of Alphabet by 9.4% during the 1st quarter. Rovin Capital UT ADV now owns 10,843 shares of the information services provider’s stock valued at $1,677,000 after purchasing an additional 933 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of Alphabet by 1.2% during the 1st quarter. Vontobel Holding Ltd. now owns 2,908,021 shares of the information services provider’s stock valued at $449,696,000 after purchasing an additional 34,481 shares during the last quarter. Finally, Elevate Capital Advisors LLC boosted its position in Alphabet by 1.9% during the first quarter. Elevate Capital Advisors LLC now owns 25,619 shares of the information services provider’s stock valued at $3,962,000 after buying an additional 483 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $277.54 on Wednesday. The firm has a market cap of $3.36 trillion, a P/E ratio of 27.37, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59. The business’s 50 day moving average price is $246.91 and its 200-day moving average price is $202.13. 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 issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 190,896 shares of company stock valued at $45,092,175 over the last ninety days. 11.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOOGL. Sanford C. Bernstein upped their price target on shares of Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. CIBC raised their price target on Alphabet to $315.00 in a research report on Monday, October 20th. Morgan Stanley raised their price target on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. New Street Research raised their price target on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Finally, Jefferies Financial Group raised their price target on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.09.

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.