Pine Ridge Advisers LLC reduces stock position in Alphabet Inc. (NASDAQ:GOOGL)

Pine Ridge Advisers LLC has reduced its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) rose 49.4% during the second quarter, the company said in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owns 73,640 shares of the information services provider’s stock after selling 71,860 shares during the quarter. Alphabet represents approximately 1.9% of Pine Ridge Advisers LLC’s portfolio, making the stock its tenth-largest holding. Pine Ridge Advisers LLC’s holdings in Alphabet were valued at $8,815,000 at the end of the last reporting period.

A number of other institutional investors also added or reduced their stakes in the company. Banque Cantonal Vaudoise boosted its position in Alphabet by 16.6% during the 2nd quarter. Banque Cantonale Vaudoise now owns 296,237 shares of the information services provider’s stock valued at $35,462,000 after purchasing an additional 42,209 shares during the period. Rock Creek Group LP boosted its position in Alphabet by 4.6% during the second quarter. Rock Creek Group LP now owns 14,630 shares of the information services provider’s stock valued at $1,751,000 after purchasing an additional 642 shares during the period. Coastal Investment Advisors Inc. Its position in Alphabet increased by 2.8% during the second quarter. Coastal Investment Advisors Inc. owns Now 29,317 shares of the information services provider’s stock are worth $3,509,000 after purchasing an additional 792 shares during the period. Andra AP fonden boosted its position in Alphabet by 11.9% during the second quarter. Andra AP fonden now owns 39,442 shares of the information services provider’s stock valued at $4,721,000 after purchasing an additional 4,191 shares during the period. Finally, Van Strum & Towne Inc. Its position in Alphabet increased by 1.3% during the second quarter. Owned by Van Strum & Towne Inc. Now 61,565 shares of the information services provider’s stock are worth $7,369,000 after purchasing an additional 800 shares during the period. Institutional investors own 35.08% of the company’s shares.

Internal activity in the alphabet

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the sale, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the Chief Accounting Officer now owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders sold 176,576 shares of company stock worth $23,425,367 over the last 90 days. Corporate insiders own 0.88% of the company’s shares.

Alphabet price performance

GOOGL shares opened at $136.25 on Tuesday. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $133.42 and a 200 day moving average of $127.88. At Alphabet Inc. The twelve month low is $84.86 and the twelve month high is $141.22.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The information services provider reported earnings of $1.55 per share for the quarter, beating the consensus estimate of $1.45 by $0.10. The company had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, equity research analysts expect Alphabet Inc. About 5.74 earnings per share for the current fiscal year.

Analysts set new price targets

Several analysts have issued reports on the stock. Rosenblatt Securities raised their target price on shares of Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Monness Crespi & Hardt lowered shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Bank of America raised their price target on shares of Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. JMP Securities raised their price target on shares of Alphabet from $138.00 to $140.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 25th. Finally, Roth Mkm raised their target price on shares of Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Five analysts have rated the stock with a hold rating, twenty-nine 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 an average price target of $147.00.

See our latest report on GOOGL

Alphabet profile

(Free report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East and Africa, the Asia-Pacific region, Canada, and Latin America. It operates through Google services, Google Cloud and other betting segments. The Google Services segment provides products and services, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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