Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Lifted by Peninsula Asset Management Inc.

Key Points

• Peninsula Asset Management Inc. increased its stake in Alphabet Inc. by 7.0%, owning 29,531 shares now valued at approximately $4.57 million.
• Alphabet recently reported $2.31 earnings per share, surpassing analysts' expectations of $2.15, with revenues reaching $96.43 billion for the quarter.
• The company declared a quarterly dividend of $0.21 per share, reflecting a dividend yield of 0.4%, with payments scheduled for September 15th.

Peninsula Asset Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,531 shares of the information services provider's stock after acquiring an additional 1,925 shares during the quarter. Alphabet accounts for 2.5% of Peninsula Asset Management Inc.'s portfolio, making the stock its 17th largest holding. Peninsula Asset Management Inc.'s holdings in Alphabet were worth $4,567,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC grew its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE lifted its stake in Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC grew its stake in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock valued at $13,873,000 after acquiring an additional 13,564 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOGL opened at $196.52 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm's 50-day simple moving average is $180.26 and its 200 day simple moving average is $173.13. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.38 trillion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

Several analysts recently commented on GOOGL shares. Bank of America raised their price target on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. DA Davidson boosted their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Finally, Wells Fargo & Company upped their target price on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock valued at $49,474,273 over the last 90 days. 11.64% of the stock is owned by company insiders.

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.

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