Perigon Wealth Management LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Perigon Wealth Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 299,671 shares of the information services provider’s stock after buying an additional 16,093 shares during the period. Alphabet accounts for 1.4% of Perigon Wealth Management LLC’s holdings, making the stock its 13th biggest position. Perigon Wealth Management LLC’s holdings in Alphabet were worth $42,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Financial Advisors Network Inc. raised its holdings in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. raised its holdings in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the last quarter. West Michigan Advisors LLC raised its holdings in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F raised its holdings in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC raised its holdings in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday. Finally, Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $157.50.

Alphabet Stock Down 1.0 %

GOOG opened at $159.19 on Friday. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. 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 company has a fifty day moving average of $146.51 and a two-hundred day moving average of $141.11. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating 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 company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Kent Walker sold 48,076 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the sale, the insider now owns 12,725 shares of the company’s stock, valued at $1,809,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,539 shares of company stock valued at $35,906,259. Corporate insiders own 12.99% 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.