PeakShares LLC Acquires Shares of 5,037 Alphabet Inc. $GOOG

PeakShares LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,037 shares of the information services provider’s stock, valued at approximately $1,581,000. Alphabet comprises about 1.5% of PeakShares LLC’s portfolio, making the stock its 11th largest position.

Other hedge funds have also modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new position in Alphabet during the 4th quarter worth $38,000. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the 4th quarter worth about $38,000. Imprint Wealth LLC acquired a new position in Alphabet during the 3rd quarter valued at about $31,000. Bard Associates Inc. bought a new position in shares of Alphabet in the 4th quarter valued at about $41,000. Finally, Towne Trust Company N.A boosted its stake in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 34 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the sale, the director directly owned 18,721 shares in the company, valued at $7,132,701. The trade was a 0.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,516 shares of company stock worth $7,344,604 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $367.46 on Monday. The firm’s 50 day simple moving average is $364.31 and its 200 day simple moving average is $331.18. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The company has a market capitalization of $4.45 trillion, a price-to-earnings ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.96 billion. During the same quarter in the previous year, the company earned $2.81 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were issued a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is presently 6.71%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 price target on shares of Alphabet in a research note on Thursday, May 21st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 target price on shares of Alphabet in a report on Thursday, April 30th. Truist Financial set a $430.00 target price on shares of Alphabet in a research report on Monday, June 1st. Needham & Company LLC set a $400.00 price target on Alphabet and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, TD Cowen raised their price target on Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $376.78.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet continues to draw bullish attention as investors highlight accelerating Google Cloud growth, improving margins, and a very large backlog that suggests strong demand for AI and cloud services. Alphabet: Google Cloud Is Outperforming Azure And AWS; $462 Billion Backlog Requires More AI Investments
• Positive Sentiment: Berkshire Hathaway reportedly increased its Alphabet stake significantly, which is being read as a strong vote of confidence in GOOG’s long-term outlook. Berkshire Hathaway Expands Alphabet (GOOGL) Stake to 58M Shares as Ackman Exits
• Positive Sentiment: Alphabet’s major AI and data-center investments, including a reported $1.5 billion Alabama campus expansion and broader capex plans, are supporting the view that the company is buying future growth. Alphabet (GOOGL) Announces $1.5 Billion Investment Across 2026 And 2027 To Expand Its Alabama Data Center Campus

Alphabet Company Profile

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.