Crawford Lake Capital Management LLC Buys 1,927 Shares of Alphabet Inc (GOOG)

Crawford Lake Capital Management LLC lifted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 68.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,727 shares of the information services provider’s stock after acquiring an additional 1,927 shares during the quarter. Alphabet makes up approximately 1.6% of Crawford Lake Capital Management LLC’s holdings, making the stock its 24th biggest position. Crawford Lake Capital Management LLC’s holdings in Alphabet were worth $4,534,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Burt Wealth Advisors lifted its holdings in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after purchasing an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its holdings in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares in the last quarter. Almanack Investment Partners LLC. lifted its holdings in Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares in the last quarter. Catamount Wealth Management lifted its holdings in Alphabet by 5.8% in the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after purchasing an additional 10 shares in the last quarter. Finally, CWH Capital Management Inc. lifted its holdings in Alphabet by 8.5% in the 2nd quarter. CWH Capital Management Inc. now owns 192 shares of the information services provider’s stock worth $174,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 34.34% of the company’s stock.

A number of research analysts recently commented on GOOG shares. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. Morningstar reissued a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Finally, Piper Jaffray Companies boosted their price target on Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $1,064.49.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,094.80 on Tuesday. Alphabet Inc has a twelve month low of $803.37 and a twelve month high of $1,186.89. The firm has a market capitalization of $760,648.50, a price-to-earnings ratio of 34.20 and a beta of 1.01. 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 Thomson Reuters’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the previous year, the company posted $9.36 EPS. The business’s quarterly revenue was up 24.0% on a year-over-year basis.

Alphabet declared that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the sale, the chief executive officer now owns 1,178 shares in the company, valued at approximately $1,181,369.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 38 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total value of $38,600.40. Following the sale, the director now owns 1,813 shares in the company, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,010 shares of company stock worth $41,531,496 in the last 90 days. 13.92% of the stock is currently owned by insiders.

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About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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