Peachtree Investment Partners LLC Buys 3,086 Shares of Alphabet Inc. $GOOG

Peachtree Investment Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 62.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,056 shares of the information services provider’s stock after acquiring an additional 3,086 shares during the quarter. Alphabet makes up approximately 0.7% of Peachtree Investment Partners LLC’s portfolio, making the stock its 26th largest position. Peachtree Investment Partners LLC’s holdings in Alphabet were worth $1,962,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. IFS Advisors LLC increased its position 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 buying an additional 120 shares during the last quarter. WestEnd Advisors LLC grew 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 during the period. Fairman Group LLC grew its stake in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after acquiring an additional 97 shares during the period. University of Illinois Foundation purchased a new stake in Alphabet in the 2nd quarter worth about $31,000. Finally, Manning & Napier Advisors LLC bought a new stake in Alphabet in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $288.26, for a total transaction of $800,786.28. Following the transaction, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This trade represents a 19.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,829 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the sale, the insider directly owned 42,972 shares of the company’s stock, valued at approximately $13,531,453.08. This represents a 29.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,070,485 shares of company stock valued at $104,428,169 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $338.53 on Friday. The stock has a market cap of $4.09 trillion, a P/E ratio of 33.39, a PEG ratio of 1.86 and a beta of 1.09. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $320.91 and its two-hundred day moving average price is $266.24. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $342.29.

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

Alphabet Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.2%. Alphabet’s payout ratio is 8.28%.

Trending Headlines about Alphabet

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Cowen reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Alphabet in a report on Tuesday, January 20th. Barclays boosted their target price on shares of Alphabet from $250.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on Alphabet in a report on Thursday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Tuesday, January 20th. Eight investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $330.83.

Read Our Latest Report on GOOG

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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