Penbrook Management LLC Has $3.23 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Penbrook Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,100 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet comprises about 2.2% of Penbrook Management LLC’s portfolio, making the stock its 10th largest holding. Penbrook Management LLC’s holdings in Alphabet were worth $3,227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DE Burlo Group Inc. boosted its holdings in shares of Alphabet by 520.0% during the 2nd quarter. DE Burlo Group Inc. now owns 96,498 shares of the information services provider’s stock worth $11,551,000 after buying an additional 80,934 shares during the period. West Tower Group LLC acquired a new stake in Alphabet in the 2nd quarter worth about $88,000. Ballast Advisors LLC raised its stake in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after purchasing an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC raised its stake in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares in the last quarter. Institutional investors own 35.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOOGL. Mizuho lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Roth Mkm decreased their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Redburn Atlantic lifted their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Rosenblatt Securities decreased their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $155.48.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,659 shares of company stock worth $39,460,310. Insiders own 0.88% of the company’s stock.

Alphabet Stock Down 0.5 %

GOOGL opened at $150.07 on Tuesday. Alphabet Inc. has a fifty-two week low of $99.74 and a fifty-two week high of $153.78. The company’s 50-day moving average is $143.02 and its 200 day moving average is $137.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 25.87, a PEG ratio of 1.39 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $70.77 billion. During the same quarter last year, the company posted $1.05 earnings per share. Research analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

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.