Peak Retirement Planning Inc. Invests $1.45 Million in Alphabet Inc. (NASDAQ:GOOGL)

Peak Retirement Planning Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,680 shares of the information services provider's stock, valued at approximately $1,454,000. Alphabet accounts for about 1.0% of Peak Retirement Planning Inc.'s investment portfolio, making the stock its 23rd biggest position.

A number of other hedge funds have also recently made changes to their positions in the stock. Compass Planning Associates Inc bought a new position in Alphabet during the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet in the fourth quarter worth approximately $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter worth $49,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock worth $26,793,380 over the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on GOOGL shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Piper Sandler boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. DZ Bank downgraded shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. Finally, Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded down $2.40 during trading on Monday, reaching $168.47. 35,166,008 shares of the company's stock traded hands, compared to its average volume of 29,747,753. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a 50-day simple moving average of $158.57 and a 200-day simple moving average of $174.83. The firm has a market cap of $2.04 trillion, a PE ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the business posted $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.