Peninsula Asset Management Inc. Has $5.32 Million Stock Holdings in Alphabet Inc. $GOOGL

Peninsula Asset Management Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 30,176 shares of the information services provider’s stock after buying an additional 645 shares during the period. Alphabet makes up approximately 2.8% of Peninsula Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Peninsula Asset Management Inc.’s holdings in Alphabet were worth $5,318,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Blackston Financial Advisory Group LLC increased its holdings in Alphabet by 1.1% during the 2nd quarter. Blackston Financial Advisory Group LLC now owns 7,368 shares of the information services provider’s stock worth $1,299,000 after purchasing an additional 77 shares in the last quarter. Birchcreek Wealth Management LLC lifted its holdings in shares of Alphabet by 2.9% in the second quarter. Birchcreek Wealth Management LLC now owns 8,028 shares of the information services provider’s stock valued at $1,415,000 after purchasing an additional 223 shares in the last quarter. Samalin Investment Counsel LLC boosted its position in shares of Alphabet by 3.5% during the second quarter. Samalin Investment Counsel LLC now owns 6,016 shares of the information services provider’s stock worth $1,060,000 after buying an additional 202 shares during the period. Vise Technologies Inc. acquired a new position in shares of Alphabet during the second quarter worth about $34,191,000. Finally, Allworth Financial LP grew its holdings in shares of Alphabet by 39.2% during the second quarter. Allworth Financial LP now owns 264,766 shares of the information services provider’s stock worth $46,660,000 after buying an additional 74,622 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOOGL. Citigroup restated a “buy” rating and issued a $343.00 target price (up previously from $280.00) on shares of Alphabet in a research note on Thursday, October 30th. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. President Capital boosted their price objective on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Citizens Jmp raised their target price on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, Mizuho set a $325.00 price target on shares of Alphabet in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $305.33.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 112 shares of Alphabet stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the sale, the chief executive officer owned 2,304,619 shares in the company, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 225,174 shares of company stock valued at $58,095,223. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $299.66 on Monday. The stock has a market cap of $3.62 trillion, a P/E ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a fifty day moving average price of $262.39 and a two-hundred day moving average price of $213.84. Alphabet Inc. has a one year low of $140.53 and a one year high of $306.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

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.