Credit Agricole S A reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 96.5% during the 4th quarter, HoldingsChannel reports. The fund owned 7,376 shares of the information services provider’s stock after selling 204,025 shares during the period. Credit Agricole S A’s holdings in Alphabet were worth $7,718,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. boosted its holdings in Alphabet by 108.3% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after purchasing an additional 52 shares in the last quarter. Price Wealth Management Inc. bought a new stake in Alphabet in the fourth quarter worth $125,000. Signature Estate & Investment Advisors LLC bought a new stake in Alphabet in the fourth quarter worth $132,000. WealthTrust Arizona LLC boosted its holdings in Alphabet by 134.9% in the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after purchasing an additional 85 shares in the last quarter. Finally, Front Row Advisors LLC bought a new stake in Alphabet in the fourth quarter worth $155,000. Institutional investors and hedge funds own 34.78% of the company’s stock.
In related news, Director Ann Mather sold 37 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total value of $40,991.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $1,077.94, for a total transaction of $4,311,760.00. Following the completion of the transaction, the chief executive officer now directly owns 601 shares of the company’s stock, valued at approximately $647,841.94. The disclosure for this sale can be found here. Insiders sold 57,211 shares of company stock valued at $61,748,995 in the last three months. Company insiders own 13.92% of the company’s stock.
Shares of Alphabet opened at $1,078.59 on Friday, according to MarketBeat. Alphabet Inc. has a 52 week low of $1,076.38 and a 52 week high of $1,088.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The stock has a market cap of $751.77 billion, a PE ratio of 33.65 and a beta of 1.09.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.28 by $0.65. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm had revenue of $31.15 billion during the quarter, compared to analyst estimates of $30.28 billion. During the same quarter in the prior year, the business posted $7.73 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year.
Alphabet declared that its board has initiated a stock buyback program on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of equities research analysts recently issued reports on GOOG shares. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price objective for the company in a report on Monday, March 19th. Morningstar restated a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. Pivotal Research decreased their price target on shares of Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a report on Monday, April 2nd. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a report on Friday, April 20th. Finally, BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 21st. Five research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,130.86.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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