Peddock Capital Advisors LLC Boosts Stock Position in Alphabet Inc. $GOOG

Peddock Capital Advisors LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,273 shares of the information services provider’s stock after acquiring an additional 140 shares during the period. Peddock Capital Advisors LLC’s holdings in Alphabet were worth $1,113,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Principia Wealth Advisory LLC raised its stake in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new position in shares of Alphabet during the 1st quarter worth approximately $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GOOG shares. KeyCorp set a $265.00 target price on Alphabet in a research note on Wednesday, September 3rd. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Pivotal Research upped their price target on Alphabet from $245.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Four research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.35.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $246.57 on Friday. The business’s fifty day moving average price is $215.38 and its two-hundred day moving average price is $183.72. The stock has a market cap of $2.98 trillion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

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.