Peak Financial Management Inc. Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Peak Financial Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 22.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,698 shares of the information services provider’s stock after selling 1,630 shares during the quarter. Peak Financial Management Inc.’s holdings in Alphabet were worth $803,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Financial Advisors Network Inc. lifted its stake in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after buying an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC raised its holdings in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares during the last quarter. Somerville Kurt F increased its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its holdings in shares of Alphabet by 1.4% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the completion of the transaction, the chief accounting officer now owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the sale, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,138 shares of company stock valued at $35,427,655. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.2 %

NASDAQ GOOG opened at $152.26 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $1.89 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a one year low of $100.29 and a one year high of $155.20. The firm’s fifty day moving average is $144.75 and its two-hundred day moving average is $139.39.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GOOG. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna raised their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $146.33.

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.