Peregrine Capital Management LLC Sells 82,630 Shares of Alphabet Inc. $GOOG

Peregrine Capital Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 50.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 81,936 shares of the information services provider’s stock after selling 82,630 shares during the period. Peregrine Capital Management LLC’s holdings in Alphabet were worth $14,535,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. IFS Advisors LLC increased its holdings in shares of Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley increased its holdings in shares of Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its position in shares of Alphabet by 58.7% during the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after buying an additional 61 shares during the last quarter. Fairman Group LLC increased its holdings in Alphabet by 121.3% in the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the 1st quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 2.5%

Shares of NASDAQ:GOOG opened at $275.17 on Thursday. The stock has a market capitalization of $3.33 trillion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock’s 50-day simple moving average is $241.46 and its two-hundred day simple moving average is $199.27. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $275.97.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.12 EPS. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on GOOG shares. Jefferies Financial Group lifted their price objective on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. DA Davidson set a $825.00 price objective on Alphabet in a report on Monday. Mizuho upgraded Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $297.56.

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.