Perigon Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,875.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 277,618 shares of the information services provider’s stock after acquiring an additional 263,563 shares during the period. Alphabet makes up about 2.3% of Perigon Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Perigon Wealth Management LLC’s holdings in Alphabet were worth $26,693,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. DC Investments Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $115,000. Guardian Wealth Management Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $184,000. Turim 21 Investimentos Ltda. raised its position in shares of Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the period. qPULA Trading Management LP purchased a new position in shares of Alphabet in the 1st quarter worth $279,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Alphabet in the 2nd quarter worth $241,000. Institutional investors and hedge funds own 28.69% of the company’s stock.
Analyst Ratings Changes
Several brokerages recently weighed in on GOOG. Bank of America increased their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Oppenheimer increased their price target on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. UBS Group set a $120.00 price target on Alphabet in a report on Monday, February 6th. Finally, Jefferies Financial Group set a $125.00 price target on Alphabet in a report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $135.11.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter in the prior year, the firm earned $1.53 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Activity at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,245 shares of company stock valued at $7,174,078. Insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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