Granite Springs Asset Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 315 shares of the information services provider’s stock, valued at approximately $330,000.
Several other large investors have also added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. boosted its stake in Alphabet by 108.3% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after buying an additional 52 shares in the last quarter. Price Wealth Management Inc. bought a new position in Alphabet during the fourth quarter valued at about $125,000. Signature Estate & Investment Advisors LLC bought a new position in Alphabet during the fourth quarter valued at about $132,000. WealthShield LLC bought a new position in Alphabet during the fourth quarter valued at about $144,000. Finally, WealthTrust Arizona LLC boosted its position in shares of Alphabet by 134.9% in the 4th quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock valued at $155,000 after purchasing an additional 85 shares during the period. 34.25% of the stock is owned by institutional investors.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $1,089.48, for a total transaction of $4,357,920.00. Following the completion of the sale, the chief executive officer now directly owns 953 shares of the company’s stock, valued at approximately $1,038,274.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L John Doerr sold 11,563 shares of the firm’s stock in a transaction dated Tuesday, May 15th. The stock was 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 $3,767,703.20. 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 over the last ninety days. Company insiders own 13.11% of the company’s stock.
GOOG opened at $1,075.66 on Friday. Alphabet Inc. has a fifty-two week low of $894.79 and a fifty-two week high of $1,186.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The stock has a market cap of $747.52 billion, a PE ratio of 31.44 and a beta of 1.09.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.28 by $0.65. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The company had revenue of $31.15 billion during the quarter, compared to the consensus estimate of $30.28 billion. During the same period last year, the business earned $7.73 EPS. The business’s quarterly revenue was up 25.8% on a year-over-year basis.
Alphabet announced that its board has authorized a share buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts recently weighed in on the company. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Jefferies Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,130.86.
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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