Trading Report: The Alphabet Inc. (GOOGL) Stake Boosted by Peak Asset Management LLC

The Alphabet Inc. (GOOGL) Stake Boosted by Peak Asset Management LLC

Peak Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 30.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,515 shares of the company’s stock after buying an additional 358 shares during the period. Peak Asset Management LLC’s holdings in Alphabet were worth $1,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SevenBridge Financial Group LLC purchased a new position in shares of Alphabet during the first quarter valued at about $120,000. Dividend Assets Capital LLC purchased a new position in shares of Alphabet during the second quarter valued at about $120,000. Peoples Financial Services CORP. boosted its position in Alphabet by 2.3% in the second quarter. Peoples Financial Services CORP. now owns 221 shares of the company’s stock worth $155,000 after buying an additional 5 shares during the period. Cacti Asset Management LLC bought a new position in Alphabet during the second quarter worth $162,000. Finally, Founders Capital Management LLC bought a new position in Alphabet during the second quarter worth $196,000. Institutional investors own 34.15% of the company’s stock.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.27% during trading on Friday, hitting $819.56. 4,354,884 shares of the stock traded hands. Alphabet Inc. has a 52-week low of $672.66 and a 52-week high of $839.00. The firm has a market cap of $564.79 billion, a price-to-earnings ratio of 29.92 and a beta of 1.00. The stock has a 50 day moving average of $809.00 and a 200 day moving average of $765.79.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.29% and a return on equity of 15.39%. Analysts expect that Alphabet Inc. will post $34.10 EPS for the current year.

A number of research firms have recently weighed in on GOOGL. Raymond James Financial Inc. reissued an “outperform” rating and issued a $920.00 price target (up from $900.00) on shares of Alphabet in a report on Sunday. Monness Crespi & Hardt reissued a “buy” rating and issued a $900.00 price target on shares of Alphabet in a report on Saturday. Vetr raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday. Credit Suisse Group AG reiterated an “outperform” rating and issued a $1,120.00 target price (up from $1,070.00) on shares of Alphabet in a research note on Saturday. Finally, SunTrust Banks Inc. reissued a “buy” rating and set a $900.00 price target on shares of Alphabet in a research report on Saturday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and forty-six have assigned a buy rating to the stock. Alphabet has an average rating of “Buy” and an average price target of $936.91.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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