Peregrine Investment Management Inc. Takes Position in Alphabet Inc. $GOOGL

Key Points

• Peregrine Investment Management opened a new position in Alphabet during the fourth quarter, buying 24,370 shares valued at about $7.63 million. The stake makes Alphabet roughly 4.7% of the firm’s portfolio and its 11th largest holding.
• Alphabet continues to draw strong institutional and analyst support, with hedge funds owning 40.03% of the stock and analysts maintaining a Moderate Buy consensus. Recent price targets have been raised by several firms, including an average target price of $412.94.
• The company reported a strong quarter, beating earnings and revenue estimates, and also raised its quarterly dividend to $0.22 per share. Alphabet’s stock has been trading near its highs, opening at $380.34 versus a 52-week range of $162.00 to $408.61.

Peregrine Investment Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,370 shares of the information services provider's stock, valued at approximately $7,628,000. Alphabet comprises about 4.7% of Peregrine Investment Management Inc.'s portfolio, making the stock its 11th largest position.

Other large investors have also made changes to their positions in the company. Symmetry Partners LLC boosted its holdings in Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock worth $2,476,000 after buying an additional 30 shares in the last quarter. Members Trust Co boosted its holdings in Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock worth $2,014,000 after buying an additional 31 shares in the last quarter. Altfest L J & Co. Inc. boosted its holdings in Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock worth $2,489,000 after buying an additional 31 shares in the last quarter. Insight 2811 Inc. boosted its holdings in Alphabet by 1.0% during the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock worth $978,000 after buying an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC boosted its holdings in Alphabet by 0.4% during the fourth quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider's stock worth $2,274,000 after buying an additional 32 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud reported standout Q1’26 results, with revenue up 63% to $20 billion, a 32.9% margin, and a backlog that reached $462 billion, suggesting strong demand and improving profitability. GOOGL Rides on Surging Google Cloud Demand: More Upside Ahead?
• Positive Sentiment: Alphabet and Blackstone announced a partnership to build 500MW of U.S. data center capacity by 2027, underscoring Alphabet’s push to monetize TPU-powered AI compute as a service. Google and Blackstone partner on TPU-powered data centre capacity
• Positive Sentiment: Alphabet’s buy rating was reaffirmed by Barclays, adding to the bullish analyst tone around the stock. Alphabet Class A (GOOGL) Gets a Buy from Cantor Fitzgerald
• Positive Sentiment: Reuters reported that EQT partnered with Google Cloud to accelerate AI adoption across more than 300 portfolio companies, reinforcing Alphabet’s enterprise AI momentum. Private equity firm EQT partners with Google Cloud for AI rollout
• Neutral Sentiment: Waymo continued expanding its robotaxi fleet with lower-cost vehicles and new rider access, which supports Alphabet’s optionality in autonomous driving but is not an immediate earnings driver. Waymo opens Ojai robotaxis to select riders as company aims to lower cost of fleet expansion
• Negative Sentiment: Alphabet is facing fresh reputational and legal pressure after U.S. prosecutors charged a Google engineer in a Polymarket insider-trading case, and an Indian court ruling raised trademark-related ad risk. Indian court ruling on Google keyword ads could reshape online advertising
• Negative Sentiment: Some commentary also suggested Alphabet could face pressure as AI rivals like OpenAI and Anthropic raise larger funding war chests, keeping competition concerns in focus. Anthropic Leapfrogs OpenAI In Valuation. But Here's One Thing To Know.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Alphabet from $300.00 to $310.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. Citigroup reissued an "outperform" rating on shares of Alphabet in a report on Monday, May 4th. President Capital increased their price target on shares of Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Canaccord Genuity Group increased their price target on shares of Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Piper Sandler restated an "overweight" rating and set a $425.00 price objective (up from $395.00) on shares of Alphabet in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $412.94.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $380.34 on Monday. The firm has a 50-day simple moving average of $345.77 and a 200-day simple moving average of $325.15. The stock has a market capitalization of $4.61 trillion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion during the quarter, compared to analysts' expectations of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts predict that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is currently 6.41%.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the sale, the director directly owned 18,621 shares in the company, valued at $6,908,391. This represents a 0.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company's stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 226,369 shares of company stock valued at $27,388,127. Corporate insiders own 11.61% of the company's stock.

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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