World Asset Management Inc trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 7.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,140 shares of the information services provider’s stock after selling 2,066 shares during the quarter. Alphabet accounts for approximately 1.0% of World Asset Management Inc’s portfolio, making the stock its 10th biggest position. World Asset Management Inc’s holdings in Alphabet were worth $28,399,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Burt Wealth Advisors boosted its holdings in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after acquiring an additional 20 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the period. Archford Capital Strategies LLC boosted its holdings in Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after acquiring an additional 832 shares during the period. Almanack Investment Partners LLC. boosted its holdings in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after acquiring an additional 7 shares during the period. Finally, WealthTrust Arizona LLC boosted its holdings in Alphabet by 134.9% during the 4th quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock valued at $155,000 after acquiring an additional 85 shares during the period. 34.86% of the stock is owned by hedge funds and other institutional investors.
GOOG has been the subject of a number of research analyst reports. SunTrust Banks raised their target price on Alphabet to $1,250.00 and gave the company a “buy” rating in a report on Friday, January 12th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Morningstar restated a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. Finally, Vetr cut Alphabet from a “hold” rating to a “sell” rating and set a $1,011.69 target price for the company. in a report on Thursday, December 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $1,072.37.
In related news, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $1,164.43, for a total transaction of $6,625,606.70. Following the completion of the sale, the senior vice president now owns 2,897 shares in the company, valued at $3,373,353.71. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 803 shares of the company’s stock, valued at approximately $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 company insiders.
Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,135.73 on Friday. The firm has a market capitalization of $798,708.63, a P/E ratio of 35.91 and a beta of 1.04. Alphabet Inc has a 52 week low of $803.37 and a 52 week 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 posted 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 business had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. Alphabet’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.36 EPS.
Alphabet declared that its board has approved a stock repurchase program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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.
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