Pennsylvania Trust Co bought a new stake in shares of Alphabet Inc (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,194 shares of the information services provider’s stock, valued at approximately $13,806,000.
A number of other large investors have also recently made changes to their positions in GOOG. Vanguard Group Inc. grew its position in shares of Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after acquiring an additional 589,654 shares during the period. BlackRock Inc. boosted its holdings in Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after buying an additional 826,480 shares during the last quarter. FMR LLC boosted its holdings in Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after buying an additional 62,507 shares during the last quarter. Capital World Investors boosted its holdings in Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 3.2% in the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after buying an additional 155,151 shares during the last quarter. 34.85% of the stock is currently owned by institutional investors.
In related news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total value of $39,836.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $1,065.21, for a total transaction of $4,260,840.00. Following the completion of the sale, the chief executive officer now owns 1,031 shares in the company, valued at $1,098,231.51. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,902 shares of company stock valued at $53,232,759. 13.92% of the stock is owned by company insiders.
GOOG has been the topic of a number of research reports. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 target price on the stock. in a research note on Thursday, December 7th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. UBS reissued a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Piper Jaffray boosted their target price on shares of Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $1,086.89.
GOOG traded down $25.32 during trading hours on Monday, reaching $1,006.47. 2,679,429 shares of the stock traded hands, compared to its average volume of 1,923,048. The firm has a market cap of $716,870.19, a price-to-earnings ratio of 31.40 and a beta of 1.08. Alphabet Inc has a fifty-two week low of $817.02 and a fifty-two week high of $1,186.89. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. Alphabet’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the business posted $9.36 earnings per share.
Alphabet announced that its board has approved a share repurchase program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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