Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Peak Asset Management LLC

Peak Asset Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,297 shares of the information services provider’s stock after selling 71 shares during the period. Peak Asset Management LLC’s holdings in Alphabet were worth $1,554,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&G PLC purchased a new position in Alphabet during the 3rd quarter worth $2,240,000. Colonial River Wealth Management LLC grew its holdings in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after buying an additional 5,892 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after acquiring an additional 498 shares during the period. Finally, Marks Group Wealth Management Inc raised its stake in Alphabet by 5.4% during the 3rd quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock valued at $27,149,000 after acquiring an additional 8,304 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOOG. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Barclays raised their target price 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. Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was 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 207,495 shares of company stock valued at $34,586,641. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.5 %

NASDAQ:GOOG opened at $180.49 on Thursday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $165.75 and a 200-day simple moving average of $171.50. The company has a market capitalization of $2.21 trillion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.55 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.