Peregrine Asset Advisers Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 17,180 shares of the information services provider’s stock after selling 400 shares during the period. Alphabet accounts for 1.7% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 22nd largest holding. Peregrine Asset Advisers Inc.’s holdings in Alphabet were worth $1,782,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Bornite Capital Management LP bought a new position in Alphabet during the first quarter worth $16,688,000. Markel Corp boosted its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its position in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management boosted its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total value of $227,040.45. The disclosure for this sale can be found here. Insiders sold 180,956 shares of company stock valued at $8,923,120 over the last quarter. 0.88% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
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Alphabet Stock Performance
Alphabet stock opened at $129.08 on Wednesday. The business has a 50 day moving average of $124.69 and a 200-day moving average of $112.79. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $133.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The company has a market capitalization of $1.63 trillion, a P/E ratio of 27.35, a P/E/G ratio of 1.47 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 5.67 earnings per share for the current 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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