Peregrine Asset Advisers Inc. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Peregrine Asset Advisers Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,578.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,600 shares of the information services provider’s stock after buying an additional 19,373 shares during the quarter. Alphabet accounts for approximately 2.3% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 15th biggest position. Peregrine Asset Advisers Inc.’s holdings in Alphabet were worth $1,970,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Alphabet by 1,928.6% in the 3rd quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock worth $4,062,723,000 after purchasing an additional 40,381,114 shares during the period. Jennison Associates LLC boosted its stake in Alphabet by 1,690.3% in the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock worth $2,509,083,000 after purchasing an additional 24,766,730 shares during the period. Vanguard Group Inc. boosted its stake in Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after purchasing an additional 331,945 shares during the period. Finally, Alecta Tjanstepension Omsesidigt boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock valued at $1,845,092,000 after acquiring an additional 18,321,700 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GOOGL shares. Rosenblatt Securities lowered their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Wells Fargo & Company raised their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. Morgan Stanley raised their price target on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Finally, Bank of America lifted their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Stock Up 0.2 %

Shares of GOOGL stock opened at $90.06 on Wednesday. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 19.79, a PEG ratio of 1.23 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The firm’s 50-day moving average is $93.47 and its 200-day moving average is $98.00.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the prior year, the company earned $1.53 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares in the company, valued at approximately $2,518,946.04. The disclosure for this sale can be found here. Insiders have sold a total of 36,963 shares of company stock valued at $3,453,119 in the last three months. 11.44% of the stock is currently owned by company insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.