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PFG Private Wealth Management LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

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PFG Private Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 29.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 59 shares of the information services provider’s stock after selling 25 shares during the quarter. PFG Private Wealth Management LLC’s holdings in Alphabet were worth $164,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after purchasing an additional 157,280 shares during the period. Geode Capital Management LLC lifted its position in shares of Alphabet by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $15,381,257,000 after purchasing an additional 116,084 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter worth about $14,477,662,000. Massachusetts Financial Services Co. MA lifted its position in shares of Alphabet by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock worth $8,186,916,000 after purchasing an additional 20,120 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after purchasing an additional 283,907 shares during the period. 41.70% of the stock is owned by hedge funds and other institutional investors.

GOOGL opened at $2,280.41 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.50 trillion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.17 and a beta of 1.10. The company’s 50 day moving average is $2,254.71 and its 200 day moving average is $2,534.05. Alphabet Inc. has a 12-month low of $2,037.69 and a 12-month high of $3,030.93.

Alphabet’s stock is going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be distributed to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The business had revenue of $56.02 billion during the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period in the previous year, the business posted $26.29 EPS. As a group, analysts predict that Alphabet Inc. will post 110.62 EPS for the current fiscal year.

In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the transaction, the senior vice president now owns 497 shares of the company’s stock, valued at $1,160,644.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Philipp Schindler sold 3,834 shares of Alphabet stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $2,182.62, for a total transaction of $8,368,165.08. Following the transaction, the senior vice president now directly owns 12,676 shares in the company, valued at approximately $27,666,891.12. The disclosure for this sale can be found here. In the last three months, insiders sold 5,839 shares of company stock worth $12,873,739. 11.44% of the stock is currently owned by insiders.

GOOGL has been the subject of several research reports. Canaccord Genuity Group decreased their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. Moffett Nathanson decreased their price target on shares of Alphabet to $2,650.00 in a research note on Thursday, May 26th. Guggenheim decreased their price target on shares of Alphabet from $3,350.00 to $3,000.00 in a research note on Wednesday, April 27th. UBS Group decreased their price target on shares of Alphabet from $3,600.00 to $2,650.00 and set a “buy” rating for the company in a research note on Thursday, June 16th. Finally, StockNews.com lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. One equities research analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $3,251.65.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

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