Peak Asset Management LLC Has $18.47 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Peak Asset Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,376 shares of the information services provider’s stock after selling 2,214 shares during the period. Alphabet comprises about 3.5% of Peak Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Peak Asset Management LLC’s holdings in Alphabet were worth $18,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. ROI Financial Advisors LLC lifted its position in shares of Alphabet by 2.4% in the third quarter. ROI Financial Advisors LLC now owns 36,537 shares of the information services provider’s stock valued at $6,060,000 after buying an additional 869 shares during the last quarter. Plato Investment Management Ltd increased its stake in Alphabet by 1.4% during the 3rd quarter. Plato Investment Management Ltd now owns 132,819 shares of the information services provider’s stock worth $22,006,000 after acquiring an additional 1,840 shares during the period. Bell Bank increased its stake in shares of Alphabet by 17.5% in the 3rd quarter. Bell Bank now owns 38,989 shares of the information services provider’s stock valued at $6,466,000 after purchasing an additional 5,817 shares during the last quarter. Firetrail Investments PTY Ltd. increased its stake in shares of Alphabet by 0.7% in the 3rd quarter. Firetrail Investments PTY Ltd. now owns 98,512 shares of the information services provider’s stock valued at $16,322,000 after purchasing an additional 673 shares during the last quarter. Finally, Axim Planning & Wealth increased its stake in shares of Alphabet by 10.7% in the 3rd quarter. Axim Planning & Wealth now owns 1,237 shares of the information services provider’s stock valued at $205,000 after purchasing an additional 120 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of several recent research reports. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective on the stock. KeyCorp boosted their target price on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock worth $34,673,866. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $169.23 on Thursday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company’s 50 day simple moving average is $168.22 and its 200 day simple moving average is $170.34. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.07 trillion, a PE ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Alphabet Company 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.