Peregrine Capital Management LLC Has $103.16 Million Stock Position in Alphabet Inc. $GOOGL

Peregrine Capital Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 22.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 358,728 shares of the information services provider’s stock after selling 103,961 shares during the period. Alphabet comprises about 3.8% of Peregrine Capital Management LLC’s investment portfolio, making the stock its 2nd biggest position. Peregrine Capital Management LLC’s holdings in Alphabet were worth $103,156,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY lifted its holdings in shares of Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after buying an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Alphabet by 11.2% during the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after acquiring an additional 48,805 shares during the last quarter. Finally, United Bank grew its stake in Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after acquiring an additional 3,120 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Waymo plans to expand driverless rides to four more major cities this year, with a phased rollout that could broaden Alphabet’s autonomous vehicle opportunity and reinforce its leadership in robotaxis. Waymo Plans to Expand Driverless Cars to 4 More Major Cities This Year
• Positive Sentiment: Alphabet continues to be highlighted as a beneficiary of massive AI infrastructure spending, with analysts pointing to strong demand for cloud expansion, data centers, and AI hardware. 3 Top-Ranked Stocks Riding on Massive AI Infrastructure Spending
• Positive Sentiment: Alphabet was cited as an indirect way to gain exposure to Anthropic ahead of a possible IPO, since the company already holds a major private stake in the AI startup. Want Anthropic Exposure Before the IPO? These 2 AI Giants Are Already There (GOOGL)
• Positive Sentiment: Berkshire Hathaway reportedly added a $10 billion private placement investment in Alphabet, a sign of institutional confidence that could support sentiment in the stock. Warren Buffett’s Berkshire Successor, Greg Abel, Just Bought More of This Magnificent Tech Stock
• Neutral Sentiment: Cognizant deepened its Google Cloud partnership to accelerate enterprise AI adoption, which underscores Alphabet’s cloud relevance but is not a direct financial catalyst by itself. Cognizant Strengthens AI Portfolio Through Google Cloud Partnership
• Neutral Sentiment: Google’s upcoming Pixel launch event on August 12 keeps hardware in view, but this is more of a product-calendar reminder than an immediate stock-moving catalyst. Google’s Pixel event is set for August 12
• Negative Sentiment: Google updated the Chrome Web Store to ban prediction market transactions, a policy move that may be seen as restrictive and could attract backlash from affected users and developers. Google Bans Prediction Market Transactions Amid Backlash
• Negative Sentiment: One article noted Alphabet shares were already slipping versus the broader market, adding to the intraday weakness as traders weigh valuation and AI competition concerns. Alphabet Inc. (GOOG) Sees a More Significant Dip Than Broader Market: Some Facts to Know

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOGL shares. Robert W. Baird lifted their price target on shares of Alphabet from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. New Street Research increased their price objective on shares of Alphabet from $450.00 to $455.00 and gave the company a “buy” rating in a report on Friday, June 5th. CICC Research raised their price objective on Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. Loop Capital boosted their target price on Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, President Capital increased their price target on Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $413.54.

Alphabet Stock Down 1.4%

Shares of NASDAQ GOOGL opened at $361.92 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $172.77 and a 12-month high of $408.61. The firm’s 50-day moving average price is $372.28 and its 200-day moving average price is $335.93. The stock has a market capitalization of $4.39 trillion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 1.57 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. On average, equities research analysts anticipate that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Transactions at Alphabet

In related news, CAO Marsida Saraci sold 449 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $341.72, for a total transaction of $153,432.28. Following the sale, the chief accounting officer owned 27,348 shares in the company, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the completion of the sale, the director owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This represents a 0.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,465 shares of company stock worth $8,020,511. 11.61% of the stock is currently owned by corporate insiders.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.