Probity Advisors Inc. Buys 204 Shares of Alphabet Inc. (NASDAQ:GOOG)

Probity Advisors Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,014 shares of the information services provider’s stock after acquiring an additional 204 shares during the quarter. Probity Advisors Inc.’s holdings in Alphabet were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOG. Walter Public Investments Inc. increased its position in shares of Alphabet by 3.1% in the 3rd quarter. Walter Public Investments Inc. now owns 165,828 shares of the information services provider’s stock valued at $27,725,000 after buying an additional 4,994 shares in the last quarter. FLC Capital Advisors lifted its holdings in shares of Alphabet by 1.7% during the 3rd quarter. FLC Capital Advisors now owns 24,513 shares of the information services provider’s stock valued at $4,098,000 after purchasing an additional 400 shares in the last quarter. Bfsg LLC grew its position in shares of Alphabet by 4.5% in the 3rd quarter. Bfsg LLC now owns 49,698 shares of the information services provider’s stock valued at $8,309,000 after purchasing an additional 2,160 shares during the period. SPC Financial Inc. increased its stake in Alphabet by 16.6% during the 3rd quarter. SPC Financial Inc. now owns 1,825 shares of the information services provider’s stock worth $305,000 after purchasing an additional 260 shares in the last quarter. Finally, B.O.S.S. Retirement Advisors LLC acquired a new stake in Alphabet during the 3rd quarter worth approximately $232,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. UBS Group dropped their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research note on Monday, October 7th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Finally, Cantor Fitzgerald raised Alphabet to a “hold” rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

NASDAQ:GOOG opened at $166.65 on Thursday. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.57, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm has a fifty day simple moving average of $163.17 and a 200 day simple moving average of $169.55. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. On average, research analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. Company insiders own 12.99% 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.