Peak Financial Management Inc. Decreases Stake in Alphabet Inc. $GOOG

Peak Financial Management Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 22.5% in the second quarter, Holdings Channel.com reports. The fund owned 3,940 shares of the information services provider’s stock after selling 1,145 shares during the quarter. Peak Financial Management Inc.’s holdings in Alphabet were worth $699,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. IFS Advisors LLC grew its position in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock worth $27,000 after buying an additional 120 shares during the period. Robbins Farley boosted its stake in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock worth $28,000 after acquiring an additional 60 shares in the last quarter. WestEnd Advisors LLC boosted its stake in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after acquiring an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the first quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $237.49 on Friday. The company’s 50-day moving average is $226.97 and its two-hundred day moving average is $189.81. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.87 trillion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $256.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday. Oppenheimer reissued an “outperform” rating and issued a $270.00 price objective (up from $235.00) on shares of Alphabet in a research note on Wednesday, September 3rd. Raymond James Financial reissued an “outperform” rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Pivotal Research upped their price target on shares of Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.00.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,738 shares of company stock worth $59,135,475. 12.99% of the stock is owned by company insiders.

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.