Peddock Capital Advisors LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Peddock Capital Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,021 shares of the information services provider’s stock after acquiring an additional 860 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Alphabet were worth $989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tandem Wealth Advisors LLC purchased a new position in Alphabet during the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC bought a new position in Alphabet in the third quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet during the third quarter worth $32,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOG shares. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Raymond James increased their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Stock Up 1.9 %

Shares of GOOG stock traded up $3.15 during trading hours on Tuesday, reaching $172.98. 21,087,028 shares of the company’s stock were exchanged, compared to its average volume of 22,735,842. The stock has a market cap of $2.14 trillion, a PE ratio of 26.53, a PEG ratio of 1.26 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average price is $152.74 and its two-hundred day moving average price is $144.21. Alphabet Inc. has a 1 year low of $105.79 and a 1 year high of $176.42.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the firm earned $1.17 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,129 shares of company stock worth $40,382,765. Company insiders own 12.99% of the company’s stock.

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.