Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,872.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 253,716 shares of the information services provider’s stock after purchasing an additional 240,853 shares during the quarter. Alphabet comprises approximately 0.8% of Peregrine Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Peregrine Capital Management LLC’s holdings in Alphabet were worth $24,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OLD Second National Bank of Aurora lifted its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. NewSquare Capital LLC increased its stake in Alphabet by 1,900.0% during the 3rd quarter. NewSquare Capital LLC now owns 320 shares of the information services provider’s stock worth $31,000 after buying an additional 304 shares during the period. Schubert & Co increased its stake in Alphabet by 1,192.9% during the 3rd quarter. Schubert & Co now owns 362 shares of the information services provider’s stock worth $35,000 after buying an additional 334 shares during the period. Finally, Corsicana & Co. increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Corsicana & Co. now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $38.64, for a total value of $4,149,665.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of Alphabet stock in a transaction dated Monday, October 24th. The stock was bought at an average cost of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The disclosure for this purchase can be found here. In the last three months, insiders purchased 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Sanford C. Bernstein set a $120.00 price target on shares of Alphabet in a research note on Thursday, January 12th. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research note on Monday, January 9th. Credit Suisse Group set a $128.00 price target on shares of Alphabet in a research note on Wednesday, October 26th. Societe Generale dropped their target price on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Finally, Cowen dropped their target price on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.88.

Alphabet Trading Down 0.7 %

Alphabet stock opened at $92.16 on Wednesday. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $93.38 and a two-hundred day moving average price of $102.47. The firm has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.63 and a beta of 1.08. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The firm had revenue of $69.09 billion for the quarter, compared to analyst estimates of $70.67 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.40 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.