Trinity Street Asset Management LLP decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,678 shares of the information services provider’s stock after selling 4,009 shares during the quarter. Alphabet accounts for about 4.6% of Trinity Street Asset Management LLP’s investment portfolio, making the stock its 11th biggest position. Trinity Street Asset Management LLP’s holdings in Alphabet were worth $35,240,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares during the period. BlackRock Inc. grew its position in shares of Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after acquiring an additional 826,480 shares during the period. FMR LLC grew its position in shares of Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after acquiring an additional 62,507 shares during the period. 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 other Alphabet news, VP James Grier Campbell sold 183 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the chief executive officer now directly owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,902 shares of company stock valued at $53,232,759. Company insiders own 13.92% of the company’s stock.
Shares of GOOG stock traded down $25.32 during mid-day trading on Monday, reaching $1,006.47. The company’s stock had a trading volume of 2,679,429 shares, compared to its average volume of 1,923,048. Alphabet Inc has a 12-month low of $817.02 and a 12-month 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. The company has a market cap of $716,870.19, a PE ratio of 31.40 and a beta of 1.08.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business’s revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the business posted $9.36 EPS.
Alphabet declared that its board has approved a stock buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
GOOG has been the topic of several research analyst reports. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 price objective on the stock. in a report on Thursday, December 7th. BidaskClub raised shares of 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 price target 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.
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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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