Peterson Wealth Management Buys New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

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Peterson Wealth Management acquired a new position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121 shares of the information services provider’s stock, valued at approximately $337,000.

Several other hedge funds have also bought and sold shares of GOOGL. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth approximately $14,477,662,000. Allspring Global Investments Holdings LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $1,680,864,000. Fundsmith LLP purchased a new stake in Alphabet in the 4th quarter worth approximately $1,214,138,000. Invesco Ltd. boosted its position in Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after purchasing an additional 283,907 shares in the last quarter. Finally, State Street Corp boosted its position in Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after purchasing an additional 157,280 shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.

Insider Activity

In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the company’s stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the purchase, the insider now directly owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,839 shares of company stock valued at $12,873,739. 11.44% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOOGL. Wells Fargo & Company cut their price target on shares of Alphabet from $180.00 to $170.00 in a report on Wednesday, April 27th. Citigroup cut their target price on shares of Alphabet from $158.75 to $145.00 in a research note on Thursday. MKM Partners decreased their price target on shares of Alphabet from $168.75 to $165.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. Barclays cut their price objective on Alphabet from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, July 5th. Finally, Piper Sandler decreased their target price on Alphabet from $145.00 to $138.75 and set an “overweight” rating on the stock in a research report on Thursday, June 2nd. One investment analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $162.21.

Alphabet Stock Performance

Shares of GOOGL stock opened at $2,235.55 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The firm has a market cap of $1.47 trillion, a P/E ratio of 20.22, a P/E/G ratio of 1.08 and a beta of 1.10. The firm’s 50 day moving average price is $154.79 and its 200-day moving average price is $140.80. Alphabet Inc. has a one year low of $2,037.69 and a one year high of $3,030.93.

Shares of Alphabet are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.05). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The firm had revenue of $56.02 billion for the quarter, compared to analysts’ expectations of $56.17 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 110.17 EPS for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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