Narwhal Capital Management boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,651 shares of the information services provider’s stock after purchasing an additional 660 shares during the period. Alphabet comprises 3.3% of Narwhal Capital Management’s portfolio, making the stock its 2nd largest position. Narwhal Capital Management’s holdings in Alphabet were worth $14,284,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Burt Wealth Advisors raised its stake in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its position 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 purchasing an additional 5 shares during the period. Archford Capital Strategies LLC raised its position in shares of Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares during the period. Almanack Investment Partners LLC. raised its position 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 purchasing an additional 7 shares during the period. Finally, WealthTrust Arizona LLC raised its position 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 purchasing an additional 85 shares during the period. 34.84% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the company. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target on the stock. in a research report on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. SunTrust Banks increased their price target on Alphabet to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, UBS reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $1,073.56.
Alphabet Inc (NASDAQ GOOG) opened at $1,099.82 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The stock has a market capitalization of $789,085.88, a price-to-earnings ratio of 35.48 and a beta of 1.04. Alphabet Inc has a one year low of $803.37 and a one year high of $1,186.89.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The firm had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the business posted $9.36 earnings per share.
Alphabet announced that its board has authorized a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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 transaction 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 approximately $861,329.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the firm’s 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 sale, the senior vice president now directly owns 2,897 shares of the company’s stock, valued at $3,373,353.71. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,709 shares of company stock valued at $52,954,941. 13.92% of the stock is currently 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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