Peregrine Capital Management LLC Has $144.82 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• Peregrine Capital Management trimmed its Alphabet stake by 6.4% in the fourth quarter but still held 462,689 shares worth about $144.8 million, making Alphabet its largest position.
• Insider selling continued, with CEO Sundar Pichai and director Frances Arnold among those who sold shares; insiders sold 158,553 shares worth nearly $48 million over the last three months.
• Alphabet remains favored by analysts after a strong earnings beat, with multiple firms raising price targets and the consensus rating staying at Moderate Buy; the company also lifted its quarterly dividend to $0.22 per share.

Peregrine Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 462,689 shares of the information services provider's stock after selling 31,840 shares during the period. Alphabet accounts for approximately 4.4% of Peregrine Capital Management LLC's holdings, making the stock its biggest position. Peregrine Capital Management LLC's holdings in Alphabet were worth $144,822,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at about $69,000. waypoint wealth counsel grew its position in shares of Alphabet by 9.9% during the 4th quarter. waypoint wealth counsel now owns 8,543 shares of the information services provider's stock valued at $2,674,000 after buying an additional 769 shares during the last quarter. A&I Financial Services LLC grew its position in shares of Alphabet by 2.4% during the 4th quarter. A&I Financial Services LLC now owns 2,408 shares of the information services provider's stock valued at $754,000 after buying an additional 57 shares during the last quarter. TTP Investments Inc. grew its position in shares of Alphabet by 116.7% during the 4th quarter. TTP Investments Inc. now owns 3,458 shares of the information services provider's stock valued at $1,082,000 after buying an additional 1,862 shares during the last quarter. Finally, Milestone Asset Management LLC grew its position in shares of Alphabet by 5.9% during the 4th quarter. Milestone Asset Management LLC now owns 1,036 shares of the information services provider's stock valued at $324,000 after buying an additional 58 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the sale, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 102 shares of the business's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $371.00, for a total transaction of $37,842.00. Following the sale, the director owned 18,621 shares in the company, valued at $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,553 shares of company stock worth $47,951,856 in the last three months. Insiders own 11.61% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Citizens Jmp boosted their price objective on shares of Alphabet from $385.00 to $515.00 and gave the company a "market outperform" rating in a research report on Monday, May 4th. Needham & Company LLC boosted their price objective on shares of Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Raymond James Financial raised shares of Alphabet from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $407.86.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Alphabet Trading Down 0.0%

Alphabet stock opened at $400.69 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $318.66 and a two-hundred day moving average price of $311.72. The firm has a market capitalization of $4.85 trillion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.64 and a beta of 1.26. Alphabet Inc. has a 52-week low of $152.20 and a 52-week high of $402.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Sell-side analysts expect that Alphabet Inc. will post 14.29 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 15th. Shareholders of record on Monday, June 8th will be given a dividend of $0.22 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's payout ratio is presently 6.41%.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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