Pin Oak Investment Advisors Inc. Purchases 81 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pin Oak Investment Advisors Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,946 shares of the information services provider’s stock after buying an additional 81 shares during the period. Alphabet makes up 2.1% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 11th biggest position. Pin Oak Investment Advisors Inc.’s holdings in Alphabet were worth $2,312,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. International Assets Investment Management LLC raised its stake in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. Wulff Hansen & CO. increased its position in shares of Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein increased their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Bank of America increased their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.03.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,923 shares of company stock worth $34,244,676 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $185.17 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.27 trillion, a price-to-earnings ratio of 24.56, a PEG ratio of 1.24 and a beta of 1.01. The company’s 50 day moving average is $169.70 and its 200 day moving average is $170.21. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.