Peregrine Asset Advisers Inc. Sells 879 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Peregrine Asset Advisers Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 18,415 shares of the information services provider’s stock after selling 879 shares during the quarter. Alphabet makes up approximately 1.3% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 23rd largest holding. Peregrine Asset Advisers Inc.’s holdings in Alphabet were worth $3,354,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter worth $30,000. Kings Path Partners LLC purchased a new stake in shares of Alphabet in the second quarter worth $36,000. Finally, Denver PWM LLC bought a new stake in Alphabet during the second quarter valued at $41,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders sold 193,725 shares of company stock worth $31,933,031 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. DA Davidson started coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Roth Mkm reiterated a “buy” rating and issued a $206.00 target price on shares of Alphabet in a research report on Thursday, August 29th. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Piper Sandler reiterated an “overweight” rating and set a $200.00 target price on shares of Alphabet in a report on Monday. Finally, Royal Bank of Canada boosted their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOGL opened at $165.85 on Tuesday. The firm has a market capitalization of $2.05 trillion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business has a 50 day simple moving average of $162.52 and a two-hundred day simple moving average of $166.84. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

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.