Peak Financial Management Inc. Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Peak Financial Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 22.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,698 shares of the information services provider’s stock after selling 1,630 shares during the quarter. Peak Financial Management Inc.’s holdings in Alphabet were worth $803,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GOOG. Tandem Wealth Advisors LLC purchased a new position in Alphabet in the third quarter valued at $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in Alphabet in the 2nd quarter worth approximately $26,000. Intrepid Capital Management Inc. purchased a new stake in shares of Alphabet during the 2nd quarter valued at $31,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the transaction, the director now owns 6,784 shares of the company’s stock, valued at $973,436.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the transaction, the director now owns 6,784 shares in the company, valued at $973,436.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold 251,138 shares of company stock worth $35,427,655 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $152.26 on Friday. The company has a 50-day moving average of $144.75 and a 200-day moving average of $139.39. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 52 week low of $100.29 and a 52 week high of $155.20. 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:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the company earned $1.05 EPS. Alphabet’s revenue was up 13.5% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOG shares. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $146.33.

Alphabet 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.