Peregrine Asset Advisers Inc. Purchases 99 Shares of Alphabet Inc. (NASDAQ:GOOG)

Peregrine Asset Advisers Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,566 shares of the information services provider’s stock after buying an additional 99 shares during the quarter. Peregrine Asset Advisers Inc.’s holdings in Alphabet were worth $1,934,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. M&G PLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $2,240,000. Colonial River Wealth Management LLC increased its holdings in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after buying an additional 5,892 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in Alphabet by 4.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after acquiring an additional 498 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its holdings in Alphabet by 5.4% in the 3rd quarter. Marks Group Wealth Management Inc now owns 162,384 shares of the information services provider’s stock worth $27,149,000 after purchasing an additional 8,304 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $181.97 on Tuesday. The firm has a market capitalization of $2.23 trillion, a P/E ratio of 24.13, a P/E/G ratio of 1.26 and a beta of 1.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The company has a fifty day moving average of $164.92 and a 200-day moving average of $171.27. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the transaction, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,752 shares of company stock worth $40,156,829 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOG. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.