Guardian Capital Advisors LP lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,536 shares of the information services provider’s stock after acquiring an additional 82 shares during the period. Guardian Capital Advisors LP’s holdings in Alphabet were worth $1,747,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Massey Quick Simon & CO. LLC grew its stake in Alphabet by 15,133.3% during the third quarter. Massey Quick Simon & CO. LLC now owns 1,371 shares of the information services provider’s stock worth $1,315,000 after buying an additional 1,362 shares in the last quarter. Montag A & Associates Inc. grew its stake in Alphabet by 1.8% during the third quarter. Montag A & Associates Inc. now owns 13,130 shares of the information services provider’s stock worth $12,593,000 after buying an additional 227 shares in the last quarter. Sigma Planning Corp grew its stake in Alphabet by 9.2% during the third quarter. Sigma Planning Corp now owns 2,986 shares of the information services provider’s stock worth $2,864,000 after buying an additional 252 shares in the last quarter. Veritas Investment Management LLP lifted its holdings in shares of Alphabet by 3.7% in the third quarter. Veritas Investment Management LLP now owns 40,024 shares of the information services provider’s stock worth $38,369,000 after acquiring an additional 1,432 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Alphabet by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 87,308 shares of the information services provider’s stock worth $81,956,000 after acquiring an additional 311 shares during the last quarter. Institutional investors and hedge funds own 34.25% of the company’s stock.
GOOG has been the subject of a number of research reports. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 target price for the company in a report on Monday, March 19th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, May 18th. Credit Suisse Group reissued a “buy” rating on shares of Alphabet in a report on Friday, April 20th. Pivotal Research dropped their target price on shares of Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a report on Monday, April 2nd. Finally, BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 21st. Six investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,130.86.
In other Alphabet news, VP James Grier Campbell sold 194 shares of the stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $1,075.14, for a total transaction of $208,577.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $1,077.94, for a total transaction of $4,311,760.00. Following the sale, the chief executive officer now directly owns 601 shares of the company’s stock, valued at approximately $647,841.94. The disclosure for this sale can be found here. Insiders have sold a total of 53,211 shares of company stock valued at $57,322,275 in the last three months. Insiders own 13.11% of the company’s stock.
NASDAQ:GOOG opened at $1,079.24 on Friday. The company has a market cap of $750.33 billion, a price-to-earnings ratio of 33.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. Alphabet Inc. has a fifty-two week low of $894.79 and a fifty-two week high of $1,186.89.
Alphabet (NASDAQ:GOOG) last released its 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. The business had revenue of $31.15 billion during the quarter, compared to the consensus estimate of $30.28 billion. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.73 EPS.
Alphabet announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Alphabet Company Profile
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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