Pine Ridge Advisers LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Pine Ridge Advisers LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 49.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,640 shares of the information services provider’s stock after selling 71,860 shares during the quarter. Alphabet accounts for approximately 1.9% of Pine Ridge Advisers LLC’s portfolio, making the stock its 10th largest holding. Pine Ridge Advisers LLC’s holdings in Alphabet were worth $8,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise boosted its position in Alphabet by 16.6% during the second quarter. Banque Cantonale Vaudoise now owns 296,237 shares of the information services provider’s stock valued at $35,462,000 after buying 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 buying an additional 642 shares during the period. Coastal Investment Advisors Inc. boosted its position in Alphabet by 2.8% during the second quarter. Coastal Investment Advisors Inc. now owns 29,317 shares of the information services provider’s stock valued at $3,509,000 after buying 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 buying an additional 4,191 shares during the period. Finally, Van Strum & Towne Inc. boosted its position in Alphabet by 1.3% during the second quarter. Van Strum & Towne Inc. now owns 61,565 shares of the information services provider’s stock valued at $7,369,000 after buying an additional 800 shares during the period. Institutional investors own 35.08% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’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 & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 200 shares of the firm’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 & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the firm’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 valued at $23,425,367 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $136.25 on Tuesday. The company has a market capitalization of $1.71 trillion, a P/E 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 firm has a 50 day moving average of $133.42 and a 200 day moving average of $127.88. Alphabet Inc. has a twelve month low of $84.86 and a twelve month high of $141.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings 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, equities research analysts anticipate that Alphabet Inc. will post 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 upped their price target 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 increased their target price 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 increased their target price 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 increased 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 assigned 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.

Alphabet Profile

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.