Atria Investments LLC increased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 17.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,072 shares of the information services provider’s stock after buying an additional 595 shares during the quarter. Atria Investments LLC’s holdings in Alphabet were worth $4,261,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Starfire Investment Advisers Inc. boosted its holdings in shares of Alphabet by 14.3% in the fourth quarter. Starfire Investment Advisers Inc. now owns 593 shares of the information services provider’s stock worth $621,000 after acquiring an additional 74 shares during the period. Colorado Capital Management Inc. bought a new position in shares of Alphabet in the fourth quarter worth $288,000. KCS Wealth Advisory purchased a new stake in shares of Alphabet in the fourth quarter worth $1,053,000. Trellis Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter worth $212,000. Finally, Broadleaf Partners LLC purchased a new stake in shares of Alphabet in the fourth quarter worth $7,475,000. 34.85% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on GOOG shares. UBS reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray raised their price target on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, Vetr upgraded Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price target on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,086.89.
Shares of GOOG stock traded down $25.32 during trading hours on Monday, hitting $1,006.47. 2,679,864 shares of the company’s stock traded hands, compared to its average volume of 1,923,051. Alphabet Inc has a 12-month low of $817.02 and a 12-month high of $1,186.89. The firm has a market capitalization of $716,870.19, a price-to-earnings ratio of 31.40 and a beta of 1.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the previous year, the firm earned $9.36 earnings per share. Alphabet’s revenue was up 24.0% on a year-over-year basis.
Alphabet announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $1,065.21, for a total value of $4,260,840.00. Following the completion of the transaction, the chief executive officer now directly owns 1,031 shares in the company, valued at approximately $1,098,231.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total transaction of $191,846.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,902 shares of company stock valued at $53,232,759. 13.92% of the stock is owned by company insiders.
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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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