Peregrine Capital Management LLC Has $32.41 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Peregrine Capital Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 4.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,192 shares of the information services provider’s stock after selling 7,178 shares during the period. Alphabet accounts for about 1.0% of Peregrine Capital Management LLC’s holdings, making the stock its 25th biggest position. Peregrine Capital Management LLC’s holdings in Alphabet were worth $32,411,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Maryland Capital Advisors Inc. raised its stake in shares of Alphabet by 33.0% in the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock valued at $25,055,751 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 2.7 %

Shares of NASDAQ GOOG opened at $181.58 on Friday. The business’s fifty day moving average price is $194.02 and its 200-day moving average price is $177.22. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The stock has a market capitalization of $2.21 trillion, a PE ratio of 22.56, a P/E/G ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOG. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $209.13.

About Alphabet

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.