APG Asset Management N.V. trimmed its position in shares of Alphabet Inc (NASDAQ:GOOG) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,571 shares of the information services provider’s stock after selling 4,838 shares during the period. APG Asset Management N.V. owned approximately 0.05% of Alphabet worth $313,337,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC lifted its stake in shares of Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares during the period. WealthTrust Arizona LLC lifted its stake in shares of Alphabet by 134.9% in the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock valued at $155,000 after buying an additional 85 shares during the period. Almanack Investment Partners LLC. lifted its stake in shares of Alphabet by 4.5% in the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after buying an additional 7 shares during the period. CWH Capital Management Inc. lifted its stake in shares of Alphabet by 8.5% in the second quarter. CWH Capital Management Inc. now owns 192 shares of the information services provider’s stock valued at $174,000 after buying an additional 15 shares during the period. Finally, Acrospire Investment Management LLC acquired a new position in Alphabet in the second quarter worth about $182,000. Institutional investors own 34.84% of the company’s stock.
Several research analysts recently issued reports on GOOG shares. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price target for the company in a research report on Monday, March 19th. SunTrust Banks increased their price target on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, January 12th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Finally, Morningstar reissued a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,075.75.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $1,065.21, for a total value of $4,260,840.00. Following the transaction, the chief executive officer now directly owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total transaction of $6,625,606.70. Following the completion of the transaction, the senior vice president now directly owns 2,897 shares in the company, valued at $3,373,353.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,709 shares of company stock worth $53,035,301. Insiders own 13.92% of the company’s stock.
GOOG stock opened at $1,021.57 on Friday. Alphabet Inc has a 52 week low of $803.37 and a 52 week high of $1,186.89. The stock has a market cap of $757,924.88, a P/E ratio of 56.88 and a beta of 1.04. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same period in the previous year, the business posted $9.36 earnings per share. Alphabet’s revenue was up 24.0% compared to the same quarter last year.
Alphabet declared that its Board of Directors has authorized a share 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
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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