Alphabet Inc. (NASDAQ:GOOG) is Cornell Pochily Investment Advisors Inc.’s 8th Largest Position

Cornell Pochily Investment Advisors Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,571 shares of the information services provider’s stock after acquiring an additional 58 shares during the quarter. Alphabet comprises about 2.0% of Cornell Pochily Investment Advisors Inc.’s portfolio, making the stock its 8th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Alphabet were worth $5,631,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the 3rd quarter worth about $33,000. Sanctuary Wealth Management L.L.C. raised its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC lifted its holdings in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC purchased a new position in Alphabet in the fourth quarter worth about $76,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,887 shares of company stock valued at $22,470,464. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group raised their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Scotiabank increased their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Stock Up 0.1 %

NASDAQ:GOOG opened at $197.18 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market cap of $2.41 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a 50-day moving average of $188.64 and a 200 day moving average of $175.20. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.