Peak Financial Management Inc. Sells 470 Shares of Alphabet Inc. (NASDAQ:GOOG)

Peak Financial Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,993 shares of the information services provider’s stock after selling 470 shares during the period. Peak Financial Management Inc.’s holdings in Alphabet were worth $951,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G PLC bought a new position in Alphabet during the third quarter worth about $2,240,000. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares during the period. Metis Global Partners LLC boosted its position in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares during the period. Stevens Capital Management LP boosted its position in shares of Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after acquiring an additional 57,810 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in shares of Alphabet by 10.2% in the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after acquiring an additional 5,892 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.7 %

GOOG stock opened at $197.07 on Wednesday. The company has a market capitalization of $2.41 trillion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The company’s 50 day moving average price is $188.29 and its two-hundred day moving average price is $175.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.13.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,887 shares of company stock valued at $22,470,464 over the last three months. 12.99% of the stock is owned by company insiders.

About Alphabet

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.