Alphabet Inc. (GOOG) Holdings Trimmed by Next Century Growth Investors LLC

Next Century Growth Investors LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,637 shares of the information services provider’s stock after selling 1,270 shares during the period. Next Century Growth Investors LLC’s holdings in Alphabet were worth $2,759,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in shares of Alphabet in the 4th quarter worth $290,000. Geode Capital Management LLC raised its stake in shares of Alphabet by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 3,357,642 shares of the information services provider’s stock worth $3,506,398,000 after buying an additional 105,985 shares in the last quarter. Investec Asset Management LTD raised its stake in shares of Alphabet by 1.4% in the 4th quarter. Investec Asset Management LTD now owns 15,593 shares of the information services provider’s stock worth $16,317,000 after buying an additional 213 shares in the last quarter. Corundum Group Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $218,000. Finally, Burney Co. bought a new stake in shares of Alphabet in the 4th quarter worth $1,813,000. 34.78% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on GOOG. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research note on Monday, January 29th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. Atlantic Securities reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Jefferies Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, JPMorgan Chase reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $1,130.86.

In related news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $1,106.68, for a total transaction of $4,426,720.00. Following the completion of the sale, the chief executive officer now owns 642 shares of the company’s stock, valued at $710,488.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director L John Doerr sold 11,563 shares of Alphabet stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $1,081.12, for a total value of $12,500,990.56. Following the sale, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,767,703.20. The disclosure for this sale can be found here. Insiders have sold 57,211 shares of company stock worth $61,748,995 in the last quarter. 13.92% of the stock is currently owned by corporate insiders.

Shares of Alphabet opened at $1,066.36 on Friday, MarketBeat.com reports. Alphabet Inc. has a 1-year low of $894.79 and a 1-year high of $1,186.89. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02. The firm has a market cap of $749.56 billion, a PE ratio of 31.53 and a beta of 1.09.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.28 by $0.65. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The business had revenue of $31.15 billion for the quarter, compared to the consensus estimate of $30.28 billion. During the same quarter in the previous year, the company posted $7.73 earnings per share. Alphabet’s revenue for the quarter was up 25.8% compared to the same quarter last year.

Alphabet announced that its board has initiated a share repurchase plan on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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