Alphabet Inc (GOOG) Position Cut by Whetstone Capital Advisors LLC

Whetstone Capital Advisors LLC reduced its position in shares of Alphabet Inc (NASDAQ:GOOG) by 0.6% in the 3rd quarter, Holdings Channel reports. The firm owned 15,600 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet accounts for about 6.8% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. Whetstone Capital Advisors LLC’s holdings in Alphabet were worth $14,962,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of Alphabet by 759.0% in the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after acquiring an additional 2,831,099 shares during the last quarter. Koch Industries Inc. raised its stake in shares of Alphabet by 214,636.6% in the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after acquiring an additional 1,161,184 shares during the last quarter. BlackRock Inc. raised its stake in shares of Alphabet by 4.8% in the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after acquiring an additional 826,480 shares during the last quarter. Capital World Investors raised its stake in shares of Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after acquiring an additional 776,853 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Alphabet by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after acquiring an additional 589,654 shares during the last quarter. 34.34% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on GOOG. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, January 29th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, Atlantic Securities reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. Alphabet has a consensus rating of “Buy” and an average price target of $1,064.49.

In other news, Director Ann Mather sold 38 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,813 shares in the company, valued at $1,841,645.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $1,106.68, for a total transaction of $4,426,720.00. Following the completion of the transaction, the chief executive officer now owns 642 shares of the company’s stock, valued at approximately $710,488.56. The disclosure for this sale can be found here. Insiders sold 43,010 shares of company stock valued at $45,958,216 in the last quarter. Corporate insiders own 13.92% of the company’s stock.

Alphabet Inc (GOOG) opened at $1,126.79 on Friday. The stock has a market cap of $797,770.00, a P/E ratio of 35.10 and a beta of 1.01. Alphabet Inc has a 1-year low of $803.37 and a 1-year high of $1,186.89. 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 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). The company had revenue of $32.32 billion during the quarter, compared to analyst estimates 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 last year, the company earned $9.36 EPS.

Alphabet declared that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

WARNING: “Alphabet Inc (GOOG) Position Cut by Whetstone Capital Advisors LLC” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://ledgergazette.com/2018/02/24/alphabet-inc-goog-position-cut-by-whetstone-capital-advisors-llc.html.

Alphabet Profile

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply