Peregrine Asset Advisers Inc. cut its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 27.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,278 shares of the information services provider’s stock after selling 475 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Alphabet were worth $1,381,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. Exane Derivatives raised its position in shares of Alphabet by 122.7% in the 4th quarter. Exane Derivatives now owns 1,000 shares of the information services provider’s stock valued at $1,035,000 after purchasing an additional 551 shares in the last quarter. Telos Capital Management Inc. raised its position in shares of Alphabet by 23.8% in the 4th quarter. Telos Capital Management Inc. now owns 896 shares of the information services provider’s stock valued at $928,000 after purchasing an additional 172 shares in the last quarter. Cordatus Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $483,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $121,000. Finally, Wedge Capital Management L L P NC raised its position in shares of Alphabet by 1.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 756 shares of the information services provider’s stock valued at $783,000 after purchasing an additional 11 shares in the last quarter. Institutional investors own 34.00% of the company’s stock.
A number of equities analysts have issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $1,450.00 target price (up from $1,350.00) on shares of Alphabet in a research report on Friday, July 26th. Benchmark reaffirmed a “buy” rating and issued a $1,360.00 target price (up from $1,315.00) on shares of Alphabet in a research report on Friday, July 26th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price on the stock. in a research report on Tuesday, April 30th. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Finally, BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, July 13th. Three analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,378.93.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $38.94 billion during the quarter, compared to the consensus estimate of $38.21 billion. During the same period in the previous year, the business earned $11.75 EPS. The business’s quarterly revenue was up 19.3% on a year-over-year basis. On average, research analysts expect that Alphabet Inc will post 52.1 earnings per share for the current year.
In related news, CAO Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $1,042.90, for a total transaction of $71,960.10. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares in the company, valued at approximately $404,645.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Capitalg Lp acquired 140,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $34.00 per share, with a total value of $4,760,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 2,123 shares of company stock valued at $2,553,758 over the last quarter. Company insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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