Alphabet Inc. (NASDAQ:GOOGL) Position Increased by Peak Financial Management Inc.

Peak Financial Management Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,420 shares of the information services provider’s stock after purchasing an additional 229 shares during the period. Peak Financial Management Inc.’s holdings in Alphabet were worth $837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after purchasing an additional 4,662,809 shares during the period. JPMorgan Chase & Co. grew its stake in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in Alphabet by 115.4% in the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock worth $1,264,022,000 after buying an additional 3,718,420 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.6 %

Shares of Alphabet stock opened at $204.02 on Friday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $205.48. The company has a market cap of $2.50 trillion, a P/E ratio of 27.06, a P/E/G ratio of 1.26 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $188.97 and a 200 day moving average price of $174.15.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction 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 $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock worth $22,258,133 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Monday, January 27th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley lifted their target price on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.00.

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.