Gillespie Robinson & Grimm Inc. cut its stake in Alphabet Inc (NASDAQ:GOOG) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,149 shares of the information services provider’s stock after selling 141 shares during the period. Alphabet accounts for about 2.9% of Gillespie Robinson & Grimm Inc.’s portfolio, making the stock its 22nd largest position. Gillespie Robinson & Grimm Inc.’s holdings in Alphabet were worth $23,177,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Advantage Inc. lifted its position in Alphabet by 0.4% in the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after buying an additional 1 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX lifted its position in shares of Alphabet by 0.3% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 874 shares of the information services provider’s stock worth $794,000 after purchasing an additional 3 shares in the last quarter. First National Trust Co. increased its stake in shares of Alphabet by 0.4% during the second quarter. First National Trust Co. now owns 713 shares of the information services provider’s stock worth $647,000 after buying an additional 3 shares during the period. Marathon Capital Management increased its stake in shares of Alphabet by 1.2% during the second quarter. Marathon Capital Management now owns 436 shares of the information services provider’s stock worth $396,000 after buying an additional 5 shares during the period. Finally, Blue Edge Capital LLC increased its stake in shares of Alphabet by 0.6% during the second quarter. Blue Edge Capital LLC now owns 908 shares of the information services provider’s stock worth $825,000 after buying an additional 5 shares during the period. Institutional investors and hedge funds own 34.86% of the company’s stock.
Several equities analysts have commented on the stock. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a research note on Monday, January 29th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, Atlantic Securities reissued a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,072.37.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $1,072.64, for a total value of $4,290,560.00. Following the transaction, the chief executive officer now directly owns 803 shares in the company, valued at approximately $861,329.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 183 shares of the firm’s 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 $191,846.22. The disclosure for this sale can be found here. Insiders have sold a total of 48,709 shares of company stock valued at $52,954,941 over the last ninety days. Insiders own 13.92% of the company’s stock.
Shares of Alphabet Inc (NASDAQ GOOG) traded up $10.80 during midday trading on Wednesday, hitting $1,148.97. The stock had a trading volume of 1,014,499 shares, compared to its average volume of 1,756,708. Alphabet Inc has a fifty-two week low of $803.37 and a fifty-two week high of $1,186.89. The firm has a market cap of $795,220.00, a price-to-earnings ratio of 35.92 and a beta of 1.05. 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 announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same quarter in the prior year, the business posted $9.36 EPS. Alphabet’s revenue was up 24.0% compared to the same quarter last year.
Alphabet announced that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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