Peterson Wealth Management Has $2.62 Million Holdings in Alphabet Inc. $GOOGL

Peterson Wealth Management grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,940 shares of the information services provider’s stock after acquiring an additional 521 shares during the quarter. Alphabet makes up about 1.8% of Peterson Wealth Management’s investment portfolio, making the stock its 21st largest holding. Peterson Wealth Management’s holdings in Alphabet were worth $2,620,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOGL. Brighton Jones LLC increased its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE increased its holdings in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after acquiring an additional 1,003 shares during the last quarter. Forum Financial Management LP increased its holdings in shares of Alphabet by 6.4% during the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock valued at $14,985,000 after acquiring an additional 4,756 shares during the last quarter. Finally, Triumph Capital Management increased its holdings in shares of Alphabet by 1.6% during the 4th quarter. Triumph Capital Management now owns 5,470 shares of the information services provider’s stock valued at $1,036,000 after acquiring an additional 88 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 over the last quarter. 11.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets increased their price objective on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wedbush increased their price objective on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Piper Sandler increased their price objective on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Cantor Fitzgerald increased their price objective on Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $221.44.

Alphabet Stock Performance

GOOGL opened at $240.37 on Friday. The firm has a market capitalization of $2.91 trillion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The stock’s 50 day moving average price is $200.66 and its two-hundred day moving average price is $177.03. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $242.25.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

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.