Perigon Wealth Management LLC Has $53.77 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Perigon Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 276,576 shares of the information services provider’s stock after purchasing an additional 492 shares during the quarter. Alphabet makes up approximately 1.3% of Perigon Wealth Management LLC’s portfolio, making the stock its 10th biggest holding. Perigon Wealth Management LLC’s holdings in Alphabet were worth $53,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Patrick M Sweeney & Associates Inc. raised its stake in shares of Alphabet by 0.6% in the fourth quarter. Patrick M Sweeney & Associates Inc. now owns 14,828 shares of the information services provider’s stock valued at $2,824,000 after buying an additional 86 shares during the period. VCI Wealth Management LLC raised its stake in Alphabet by 25.1% in the 4th quarter. VCI Wealth Management LLC now owns 6,306 shares of the information services provider’s stock valued at $1,201,000 after acquiring an additional 1,266 shares during the period. Charter Oak Capital Management LLC lifted its holdings in Alphabet by 4.5% during the fourth quarter. Charter Oak Capital Management LLC now owns 6,337 shares of the information services provider’s stock valued at $1,207,000 after purchasing an additional 272 shares during the last quarter. YHB Investment Advisors Inc. increased its stake in shares of Alphabet by 1.2% in the fourth quarter. YHB Investment Advisors Inc. now owns 149,019 shares of the information services provider’s stock worth $28,379,000 after purchasing an additional 1,823 shares in the last quarter. Finally, Warner Financial Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $203,000. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Up 1.5 %

Shares of GOOG stock opened at $205.60 on Friday. The company’s fifty day simple moving average is $189.70 and its two-hundred day simple moving average is $175.54. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $207.08. The stock has a market cap of $2.52 trillion, a P/E ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,630 shares of company stock valued at $22,258,133 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.