Peachtree Investment Partners LLC Raises Stock Holdings in Alphabet Inc. $GOOG

Peachtree Investment Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 62.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,056 shares of the information services provider’s stock after buying an additional 3,086 shares during the period. Alphabet comprises about 0.7% of Peachtree Investment Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Peachtree Investment Partners LLC’s holdings in Alphabet were worth $1,962,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. IFS Advisors LLC lifted its stake in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after acquiring an additional 120 shares during the period. WestEnd Advisors LLC raised its holdings in Alphabet by 58.7% in the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC lifted its position in shares of 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 purchasing an additional 97 shares during the period. University of Illinois Foundation bought a new stake in shares of Alphabet during the 2nd quarter valued at about $31,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Alphabet during the third quarter valued at about $32,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $327.30, for a total value of $10,637,250.00. Following the completion of the transaction, the chief executive officer owned 2,211,872 shares in the company, valued at $723,945,705.60. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,829 shares of the stock in a transaction on Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares in the company, valued at $13,531,453.08. This trade represents a 29.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,070,485 shares of company stock worth $104,428,169. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $338.53 on Friday. The company has a market capitalization of $4.09 trillion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 1.86 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a one year low of $142.66 and a one year high of $342.29. The company’s 50-day moving average is $320.91 and its 200 day moving average is $266.24.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.2%. The ex-dividend date was Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Trending Headlines about Alphabet

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Analysts Set New Price Targets

Several research firms have weighed in on GOOG. KeyCorp reaffirmed an “overweight” rating and set a $360.00 price objective on shares of Alphabet in a research report on Monday, January 26th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Sanford C. Bernstein increased their price objective on Alphabet from $260.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Canaccord Genuity Group boosted their target price on shares of Alphabet from $330.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $370.00 target price on shares of Alphabet in a research report on Tuesday, January 20th. Eight analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $330.83.

Read Our Latest Stock Report on Alphabet

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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