HS Management Partners LLC boosted its position in Alphabet Inc (NASDAQ:GOOG) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 175,256 shares of the information services provider’s stock after purchasing an additional 2,442 shares during the period. Alphabet accounts for approximately 5.4% of HS Management Partners LLC’s portfolio, making the stock its 11th biggest position. HS Management Partners LLC’s holdings in Alphabet were worth $168,090,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Burt Wealth Advisors lifted its holdings in Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after acquiring an additional 20 shares during the period. Signature Estate & Investment Advisors LLC lifted its holdings in Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the period. Almanack Investment Partners LLC. lifted its holdings in Alphabet by 4.5% in the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after acquiring an additional 7 shares during the period. Catamount Wealth Management lifted its holdings in Alphabet by 5.8% in the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after acquiring an additional 10 shares during the period. Finally, CWH Capital Management Inc. raised its stake in shares of Alphabet by 8.5% during the 2nd quarter. CWH Capital Management Inc. now owns 192 shares of the information services provider’s stock worth $174,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 34.46% of the company’s stock.
Several brokerages have recently weighed in on GOOG. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 target price for the company in a research note on Monday, February 12th. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have given a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,064.49.
Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,094.80 on Monday. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $761,050.00, a price-to-earnings ratio of 34.11 and a beta of 1.01. Alphabet Inc has a twelve month low of $803.37 and a twelve month high of $1,186.89.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The company 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 firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.36 earnings per share.
Alphabet declared that its board has authorized a share repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.
In other news, Director Ann Mather sold 38 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the completion of the transaction, the director now directly owns 1,813 shares in the company, valued at approximately $1,841,645.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP James Grier Campbell sold 184 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $1,012.66, for a total value of $186,329.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,010 shares of company stock valued at $41,531,496. 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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