Peregrine Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 611,758 shares of the information services provider’s stock after purchasing an additional 4,411 shares during the quarter. Alphabet makes up approximately 1.8% of Peregrine Capital Management LLC’s holdings, making the stock its 4th biggest holding. Peregrine Capital Management LLC’s holdings in Alphabet were worth $63,458,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. VitalStone Financial LLC bought a new position in Alphabet during the 4th quarter worth approximately $25,000. Live Oak Investment Partners bought a new position in Alphabet during the 4th quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. bought a new position in Alphabet during the 3rd quarter worth approximately $38,000. Finally, IAG Wealth Partners LLC boosted its stake in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 35.38% of the company’s stock.
Insider Activity
In related news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 841,688 shares of company stock valued at $29,376,932. 0.88% of the stock is owned by company insiders.
Alphabet Trading Down 1.4 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the previous year, the business posted $1.23 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.
Analyst Ratings Changes
GOOGL has been the topic of several recent analyst reports. Loop Capital lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Monday, May 15th. Robert W. Baird lifted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Credit Suisse Group lifted their price target on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday. Bank of America lifted their price target on shares of Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.53.
Alphabet 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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