Pitcairn Co. Has $13.76 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pitcairn Co. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 82,940 shares of the information services provider’s stock after selling 12,818 shares during the period. Alphabet makes up approximately 0.8% of Pitcairn Co.’s holdings, making the stock its 18th biggest holding. Pitcairn Co.’s holdings in Alphabet were worth $13,756,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Monterey Private Wealth Inc. raised its position in Alphabet by 5.6% in the 2nd quarter. Monterey Private Wealth Inc. now owns 17,767 shares of the information services provider’s stock valued at $3,236,000 after buying an additional 946 shares during the last quarter. Fragasso Financial Advisors Inc raised its holdings in shares of Alphabet by 0.5% in the second quarter. Fragasso Financial Advisors Inc now owns 88,844 shares of the information services provider’s stock valued at $16,183,000 after purchasing an additional 476 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of Alphabet in the second quarter worth $2,441,000. Sage Capital Advisors llc lifted its position in shares of Alphabet by 0.3% in the second quarter. Sage Capital Advisors llc now owns 64,283 shares of the information services provider’s stock worth $11,709,000 after purchasing an additional 169 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its holdings in Alphabet by 1.1% during the second quarter. Baker Ellis Asset Management LLC now owns 21,585 shares of the information services provider’s stock worth $3,932,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. KeyCorp increased their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Stock Performance

GOOGL opened at $174.71 on Friday. The firm has a market cap of $2.14 trillion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The business’s fifty day moving average is $169.30 and its 200-day moving average is $170.31. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the firm posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,624 shares of company stock worth $27,803,730 over the last 90 days. Insiders own 11.55% 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.