Alphabet Inc. (GOOGL) Shares Sold by Peregrine Capital Management LLC
Peregrine Capital Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,226 shares of the information services provider’s stock after selling 729 shares during the period. Peregrine Capital Management LLC’s holdings in Alphabet were worth $16,944,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Freestone Capital Holdings LLC boosted its position in shares of Alphabet by 8.4% in the fourth quarter. Freestone Capital Holdings LLC now owns 1,380 shares of the information services provider’s stock valued at $1,094,000 after buying an additional 107 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Alphabet by 3.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 955,024 shares of the information services provider’s stock valued at $756,809,000 after buying an additional 35,192 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Alphabet by 2,468.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 175,068 shares of the information services provider’s stock valued at $138,733,000 after buying an additional 168,253 shares during the last quarter. GLG Partners LP boosted its position in shares of Alphabet by 144.4% in the fourth quarter. GLG Partners LP now owns 23,504 shares of the information services provider’s stock valued at $18,625,000 after buying an additional 13,886 shares during the last quarter. Finally, Glenview Capital Management LLC bought a new stake in Alphabet during the fourth quarter valued at approximately $605,119,000. Hedge funds and other institutional investors own 34.31% of the company’s stock.
Alphabet Inc. (GOOGL) traded up 0.70% on Friday, reaching $930.09. The company had a trading volume of 1,616,708 shares. The firm has a 50-day moving average of $956.22 and a 200-day moving average of $908.99. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The stock has a market capitalization of $644.44 billion, a P/E ratio of 33.71 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the business earned $8.42 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
Several research firms recently commented on GOOGL. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price on the stock in a report on Monday, June 5th. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Citigroup Inc. raised their target price on Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG reaffirmed a “buy” rating and set a $1,080.00 target price (up from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $1,060.00 target price (down from $1,065.00) on shares of Alphabet in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,049.20.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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