Alphabet Inc. $GOOGL Shares Bought by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the 2nd quarter, Holdings Channel reports. The firm owned 15,426 shares of the information services provider’s stock after acquiring an additional 456 shares during the quarter. Alphabet comprises about 0.9% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 28th biggest position. Cornell Pochily Investment Advisors Inc.’s holdings in Alphabet were worth $2,718,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOOGL. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Bank of America raised their price target on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Jefferies Financial Group raised their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Morgan Stanley set a $270.00 price target on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Robert W. Baird raised their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $244.62.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $241.53 on Friday. The company has a market cap of $2.92 trillion, a P/E ratio of 25.72, a PEG ratio of 1.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.00. The business’s 50-day simple moving average is $225.37 and its 200 day simple moving average is $188.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the sale, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

Alphabet Company 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.