Simplex Trading LLC cut its stake in Alphabet Inc (NASDAQ:GOOG) by 65.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,139 shares of the information services provider’s stock after selling 47,374 shares during the period. Alphabet accounts for about 1.1% of Simplex Trading LLC’s portfolio, making the stock its 8th largest position. Simplex Trading LLC’s holdings in Alphabet were worth $26,305,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Franklin Street Advisors Inc. NC lifted its position in Alphabet by 1.2% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 17,071 shares of the information services provider’s stock valued at $17,863,000 after buying an additional 210 shares during the last quarter. White Lighthouse Investment Management Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $240,000. Hutchens Investment Management Inc lifted its position in shares of Alphabet by 6.9% during the fourth quarter. Hutchens Investment Management Inc now owns 1,415 shares of the information services provider’s stock worth $1,480,000 after purchasing an additional 91 shares in the last quarter. WIM Asset Management HK Ltd acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,434,000. Finally, Founders Capital Management LLC lifted its position in shares of Alphabet by 4.5% during the fourth quarter. Founders Capital Management LLC now owns 9,897 shares of the information services provider’s stock worth $10,356,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 34.86% of the company’s stock.
In other news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total value of $39,836.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $1,072.64, for a total value of $4,290,560.00. Following the completion of the sale, the chief executive officer now directly owns 803 shares of the company’s stock, valued at $861,329.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,709 shares of company stock valued at $52,954,941. 13.92% of the stock is owned by corporate insiders.
Alphabet Inc (GOOG) traded up $10.80 during trading hours on Wednesday, reaching $1,148.97. The company had a trading volume of 1,014,499 shares, compared to its average volume of 1,756,708. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 52-week low of $803.37 and a 52-week high of $1,186.89. The firm has a market capitalization of $795,220.00, a price-to-earnings ratio of 35.92 and a beta of 1.05.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $9.36 earnings per share.
Alphabet declared that its board has initiated a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
GOOG has been the topic of a number of recent research reports. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,067.64 target price on the stock. in a research note on Monday, November 20th. UBS Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday, November 27th. Finally, BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $1,072.37.
Alphabet Company 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.
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.