Private Advisor Group LLC Purchases 1,715 Shares of Alphabet Inc (GOOG)

Private Advisor Group LLC lifted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 17.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,593 shares of the information services provider’s stock after acquiring an additional 1,715 shares during the period. Private Advisor Group LLC’s holdings in Alphabet were worth $11,290,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Perennial Advisors LLC grew its position in shares of Alphabet by 8.7% during the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after acquiring an additional 260 shares during the last quarter. Rothschild Capital Partners LLC bought a new position in shares of Alphabet during the third quarter worth about $3,161,000. One Capital Management LLC grew its position in shares of Alphabet by 5.0% during the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after acquiring an additional 154 shares during the last quarter. Northeast Investment Management grew its position in shares of Alphabet by 4.4% during the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after acquiring an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC grew its position in shares of Alphabet by 0.9% during the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,094.80 on Friday. Alphabet Inc has a 1-year low of $803.37 and a 1-year high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The firm has a market cap of $756,980.00, a PE ratio of 34.04 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $31.88 billion. During the same period in the previous year, the company posted $9.36 earnings per share. Alphabet’s revenue was up 24.0% compared to the same quarter last year.

Alphabet announced that its board has approved 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 purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other Alphabet news, Director L John Doerr sold 11,575 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the completion of the sale, the director now directly owns 3,485 shares of the company’s stock, valued at $3,763,765.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James Grier Campbell sold 238 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total transaction of $276,701.18. The disclosure for this sale can be found here. Insiders have sold 39,010 shares of company stock valued at $41,531,496 over the last ninety days. Insiders own 13.92% of the company’s stock.

GOOG has been the subject of a number of recent analyst reports. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 target price for the company in a research report on Monday, February 12th. TheStreet lowered shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price for the company. in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating on shares of Alphabet in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,064.49.

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About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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