Franklin Street Advisors Inc. NC increased its stake in Alphabet Inc (NASDAQ:GOOG) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,071 shares of the information services provider’s stock after purchasing an additional 210 shares during the period. Alphabet accounts for about 2.7% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 5th largest position. Franklin Street Advisors Inc. NC’s holdings in Alphabet were worth $17,863,000 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. lifted its position 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 purchasing an additional 3 shares in the last quarter. Marathon Capital Management lifted its position 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 purchasing an additional 5 shares in the last quarter. Finally, Blue Edge Capital LLC lifted its position 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 purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 34.86% of the company’s stock.
Shares of Alphabet Inc (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. The stock has a market capitalization of $795,220.00, a P/E ratio of 35.92 and a beta of 1.05. Alphabet Inc has a twelve month low of $803.37 and a twelve month 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 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 authorized a stock buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is 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.
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.
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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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