PeakShares LLC Takes $1.58 Million Position in Alphabet Inc. $GOOG

PeakShares LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,037 shares of the information services provider’s stock, valued at approximately $1,581,000. Alphabet accounts for approximately 1.5% of PeakShares LLC’s holdings, making the stock its 11th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Imprint Wealth LLC bought a new position in Alphabet during the 3rd quarter worth about $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Lifetime Wealth Management P.C. bought a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $41,000. Finally, Towne Trust Company N.A boosted its position in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $367.46 on Monday. The company has a market cap of $4.45 trillion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.23. Alphabet Inc. has a twelve month low of $163.33 and a twelve month high of $404.47. The business has a 50 day moving average price of $364.31 and a two-hundred day moving average price of $331.18. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 EPS. Analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is presently 6.71%.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOG. Needham & Company LLC set a $400.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, March 13th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $435.00 price target on shares of Alphabet in a research report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a report on Thursday, April 30th. Finally, Pivotal Research reissued a “buy” rating and issued a $470.00 price objective (up from $420.00) on shares of Alphabet in a research report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $376.78.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the transaction, the director directly owned 18,721 shares in the company, valued at $7,132,701. The trade was a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 617 shares of the company’s 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 directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 160,516 shares of company stock valued at $7,344,604. 12.99% of the stock is owned by corporate insiders.

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.