Alphabet Inc. $GOOGL Shares Sold by Peak Financial Management Inc.

Peak Financial Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,813 shares of the information services provider’s stock after selling 402 shares during the quarter. Peak Financial Management Inc.’s holdings in Alphabet were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter valued at approximately $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter valued at approximately $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on GOOGL shares. Wedbush lifted their price target on Alphabet from $225.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Robert W. Baird lifted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Roth Capital lifted their price target on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America lifted their price target on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Finally, BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $252.24.

Alphabet Stock Up 0.7%

Shares of GOOGL opened at $253.30 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $256.96. The stock has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.98, a PEG ratio of 1.70 and a beta of 1.00. The stock has a 50 day moving average price of $231.55 and a 200 day moving average price of $191.61.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Insiders own 11.64% of the company’s stock.

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.