Peregrine Capital Management LLC Sells 749 Shares of Alphabet Inc. (NASDAQ:GOOG)
Peregrine Capital Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,220 shares of the information services provider’s stock after selling 749 shares during the period. Peregrine Capital Management LLC’s holdings in Alphabet were worth $16,557,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Dodge & Cox bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,387,502,000. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,128,163,000. Putnam Investments LLC raised its stake in shares of Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the information services provider’s stock valued at $844,967,000 after buying an additional 366,456 shares during the last quarter. Sanders Capital LLC raised its stake in shares of Alphabet by 37.1% in the first quarter. Sanders Capital LLC now owns 1,199,405 shares of the information services provider’s stock valued at $1,019,026,000 after buying an additional 324,596 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $249,975,000. 34.54% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ:GOOG) traded up 0.79% on Friday, hitting $914.39. 1,206,782 shares of the stock were exchanged. The company’s 50-day moving average is $936.66 and its 200-day moving average is $889.11. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The company has a market cap of $633.56 billion, a PE ratio of 33.14 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. During the same quarter last year, the company posted $8.42 EPS. Alphabet’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.
Several equities research analysts have commented on GOOG shares. Nomura restated a “buy” rating and set a $985.00 target price on shares of Alphabet in a research report on Monday, May 1st. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research report on Wednesday, June 28th. Barclays PLC restated an “overweight” rating on shares of Alphabet in a research report on Monday, April 17th. Wedbush restated an “underperform” rating and set a $725.00 target price (up from $700.00) on shares of Alphabet in a research report on Saturday, April 29th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and an average price target of $1,026.22.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $930.46, for a total transaction of $3,721,840.00. Following the completion of the sale, the chief executive officer now directly owns 1,764 shares in the company, valued at approximately $1,641,331.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director L John Doerr sold 13,355 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $935.93, for a total value of $12,499,345.15. Following the sale, the director now owns 3,468 shares of the company’s stock, valued at $3,245,805.24. The disclosure for this sale can be found here. Insiders sold a total of 44,968 shares of company stock valued at $42,387,042 in the last quarter. 13.92% of the stock is currently owned by corporate insiders.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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