Perigon Wealth Management LLC Purchases 131,529 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Perigon Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 73.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,816 shares of the information services provider’s stock after buying an additional 131,529 shares during the period. Alphabet makes up approximately 1.4% of Perigon Wealth Management LLC’s portfolio, making the stock its 12th biggest position. Perigon Wealth Management LLC’s holdings in Alphabet were worth $43,278,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Live Oak Investment Partners bought a new stake in Alphabet during the 4th quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in Alphabet during the 3rd quarter worth approximately $38,000. Meritage Group LP increased its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC increased its holdings in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.2 %

Alphabet stock opened at $154.09 on Friday. The stock has a market cap of $1.92 trillion, a P/E ratio of 26.57, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The firm’s fifty day moving average price is $146.26 and its 200-day moving average price is $140.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 over the last 90 days. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. KeyCorp boosted their target price on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Susquehanna boosted their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Truist Financial boosted their target price on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.41.

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.