Peddock Capital Advisors LLC Has $5.64 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Peddock Capital Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,028 shares of the information services provider’s stock after selling 404 shares during the quarter. Alphabet comprises 1.4% of Peddock Capital Advisors LLC’s holdings, making the stock its 14th biggest position. Peddock Capital Advisors LLC’s holdings in Alphabet were worth $5,644,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Capital Research Global Investors lifted its position in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors grew its holdings in shares of Alphabet by 1.7% during the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after purchasing an additional 597,756 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after purchasing an additional 418,204 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $162.93 on Friday. The firm has a market cap of $2.01 trillion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The business’s 50 day moving average price is $161.77 and its two-hundred day moving average price is $168.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company earned $1.44 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 700 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. Truist Financial increased their price objective on shares of Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Argus lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Piper Sandler restated an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research note on Monday, September 30th. Finally, The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.76.

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.