Excalibur Management Corp purchased a new position in Alphabet Inc (NASDAQ:GOOG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 204 shares of the information services provider’s stock, valued at approximately $213,000.
A number of other hedge funds have also bought and sold shares of GOOG. Burt Wealth Advisors raised its holdings in shares of Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares in the last quarter. WealthTrust Arizona LLC raised its holdings in shares of Alphabet by 134.9% during the 4th quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after acquiring an additional 85 shares in the last quarter. Almanack Investment Partners LLC. raised its holdings in shares of Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after acquiring an additional 7 shares in the last quarter. Finally, CWH Capital Management Inc. raised its holdings in shares of Alphabet by 8.5% during the 2nd quarter. CWH Capital Management Inc. now owns 192 shares of the information services provider’s stock worth $174,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 34.84% of the company’s stock.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $1,164.43, for a total value 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 approximately $3,373,353.71. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,709 shares of company stock worth $52,954,941. Insiders own 13.92% of the company’s stock.
Shares of Alphabet stock opened at $1,135.73 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. 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 $789,085.88, a price-to-earnings ratio of 63.24 and a beta of 1.04.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the previous year, the business earned $9.36 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis.
Alphabet announced that its board has authorized a share repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several brokerages have recently issued reports on GOOG. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective on the stock. in a report on Wednesday, January 10th. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. SunTrust Banks upped their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Atlantic Securities reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, UBS reaffirmed a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus 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.
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