Penn Davis Mcfarland Inc. Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Penn Davis Mcfarland Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 492,415 shares of the information services provider’s stock after purchasing an additional 30,996 shares during the quarter. Alphabet accounts for approximately 9.3% of Penn Davis Mcfarland Inc.’s holdings, making the stock its biggest position. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $82,327,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Radnor Capital Management LLC boosted its stake in shares of Alphabet by 48.6% in the first quarter. Radnor Capital Management LLC now owns 12,600 shares of the information services provider’s stock worth $1,918,000 after acquiring an additional 4,120 shares during the period. RDA Financial Network boosted its position in shares of Alphabet by 35.9% during the first quarter. RDA Financial Network now owns 6,298 shares of the information services provider’s stock worth $959,000 after acquiring an additional 1,665 shares during the last quarter. Birch Capital Management LLC increased its holdings in Alphabet by 0.9% in the 1st quarter. Birch Capital Management LLC now owns 30,519 shares of the information services provider’s stock valued at $4,647,000 after acquiring an additional 258 shares during the last quarter. Compton Wealth Advisory Group LLC boosted its holdings in shares of Alphabet by 17.7% during the 1st quarter. Compton Wealth Advisory Group LLC now owns 8,920 shares of the information services provider’s stock valued at $1,358,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Benson Investment Management Company Inc. boosted its holdings in shares of Alphabet by 16.9% during the 1st quarter. Benson Investment Management Company Inc. now owns 59,455 shares of the information services provider’s stock valued at $9,053,000 after purchasing an additional 8,594 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.3 %

GOOG opened at $165.05 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50 day moving average price is $163.18 and its 200-day moving average price is $169.77. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the company posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 7.64 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. Pivotal Research started coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, UBS Group reduced their target price on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a report on Monday, October 7th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total value of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares of the company’s stock, valued at $4,342,143.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock worth $35,993,340. Insiders own 12.99% of the company’s stock.

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.