Peak Asset Management LLC Has $10.58 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Peak Asset Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,936.7% in the third quarter, Holdings Channel reports. The fund owned 110,633 shares of the information services provider’s stock after buying an additional 105,201 shares during the quarter. Alphabet makes up about 3.0% of Peak Asset Management LLC’s portfolio, making the stock its 8th biggest position. Peak Asset Management LLC’s holdings in Alphabet were worth $10,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Spreng Capital Management Inc. grew its stake in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. boosted its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its holdings in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC boosted its holdings in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management boosted its holdings in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company raised their price target on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Bank of America raised their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Credit Suisse Group lowered their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a report on Friday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a report on Friday, February 3rd. Finally, KeyCorp decreased their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.32.

Alphabet Stock Down 1.8 %

Shares of GOOGL opened at $90.63 on Friday. 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 one year low of $83.34 and a one year high of $143.79. The stock has a market capitalization of $1.16 trillion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.30 and a beta of 1.09. The stock has a 50 day moving average price of $94.19 and a 200 day moving average price of $96.83.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the previous year, the firm posted $1.53 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Alphabet Company 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.