Perigon Wealth Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,996 shares of the information services provider's stock after selling 1,698 shares during the quarter. Alphabet makes up approximately 1.1% of Perigon Wealth Management LLC's holdings, making the stock its 11th biggest position. Perigon Wealth Management LLC's holdings in Alphabet were worth $48,604,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its stake in shares of Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Nuveen LLC bought a new stake in Alphabet during the first quarter valued at about $2,622,943,000. GAMMA Investing LLC increased its position in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Vanguard Group Inc. increased its position in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Pivotal Research lifted their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Finally, UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $230.35.
Read Our Latest Stock Analysis on Alphabet
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on 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 transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 in the last 90 days. Company insiders own 12.99% of the company's stock.
Alphabet Stock Up 0.2%
Shares of GOOG stock opened at $247.18 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $256.70. The stock has a market cap of $2.99 trillion, a P/E ratio of 26.32, a PEG ratio of 1.66 and a beta of 1.01. The company's fifty day simple moving average is $216.61 and its two-hundred day simple moving average is $184.28. 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 (NASDAQ:GOOG - 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, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the company earned $1.89 EPS. The business's revenue was up 13.8% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Alphabet Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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