PFC Capital Group Inc. Has $2.22 Million Stock Holdings in Alphabet Inc. $GOOG

PFC Capital Group Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.9% in the second quarter, Holdings Channel reports. The institutional investor owned 12,487 shares of the information services provider’s stock after selling 1,070 shares during the period. Alphabet makes up about 1.0% of PFC Capital Group Inc.’s portfolio, making the stock its 27th largest position. PFC Capital Group Inc.’s holdings in Alphabet were worth $2,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Insigneo Advisory Services LLC increased its position in Alphabet by 11.0% during the second quarter. Insigneo Advisory Services LLC now owns 58,562 shares of the information services provider’s stock worth $10,388,000 after acquiring an additional 5,786 shares during the period. Adalta Capital Management LLC grew its position in shares of Alphabet by 9.2% during the 2nd quarter. Adalta Capital Management LLC now owns 12,209 shares of the information services provider’s stock worth $2,166,000 after purchasing an additional 1,025 shares in the last quarter. NFC Investments LLC increased its holdings in shares of Alphabet by 4.5% during the second quarter. NFC Investments LLC now owns 118,796 shares of the information services provider’s stock worth $21,073,000 after purchasing an additional 5,153 shares during the period. CreativeOne Wealth LLC raised its position in shares of Alphabet by 13.7% in the second quarter. CreativeOne Wealth LLC now owns 35,272 shares of the information services provider’s stock valued at $6,257,000 after buying an additional 4,259 shares in the last quarter. Finally, Maripau Wealth Management LLC boosted its stake in shares of Alphabet by 7.0% in the second quarter. Maripau Wealth Management LLC now owns 1,560 shares of the information services provider’s stock valued at $283,000 after buying an additional 102 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.3%

GOOG opened at $299.65 on Monday. The company’s 50 day moving average is $262.98 and its 200-day moving average is $214.67. The company has a market cap of $3.62 trillion, a P/E ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $306.89. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer directly owned 11,739 shares in the company, valued at $3,383,884.14. This trade represents a 19.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 227,952 shares of company stock valued at $58,896,009. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOG shares. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Piper Sandler upped their price target on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $324.81.

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