Pure Financial Advisors Inc. cut its stake in Alphabet Inc (NASDAQ:GOOG) by 23.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 218 shares of the information services provider’s stock after selling 65 shares during the period. Pure Financial Advisors Inc.’s holdings in Alphabet were worth $228,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Franklin Street Advisors Inc. NC lifted its position in Alphabet by 1.2% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 17,071 shares of the information services provider’s stock valued at $17,863,000 after buying an additional 210 shares during the last quarter. White Lighthouse Investment Management Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $240,000. Hutchens Investment Management Inc lifted its position in shares of Alphabet by 6.9% during the fourth quarter. Hutchens Investment Management Inc now owns 1,415 shares of the information services provider’s stock worth $1,480,000 after purchasing an additional 91 shares in the last quarter. WIM Asset Management HK Ltd acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,434,000. Finally, Founders Capital Management LLC lifted its position in shares of Alphabet by 4.5% during the fourth quarter. Founders Capital Management LLC now owns 9,897 shares of the information services provider’s stock worth $10,356,000 after purchasing an additional 429 shares in the last quarter. Institutional investors own 34.86% of the company’s stock.
Shares of Alphabet Inc (NASDAQ:GOOG) traded up $10.80 during midday trading on Wednesday, hitting $1,148.97. The stock had a trading volume of 1,014,499 shares, compared to its average volume of 1,756,708. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market cap of $795,220.00, a price-to-earnings ratio of 35.92 and a beta of 1.05. Alphabet Inc has a fifty-two week low of $803.37 and a fifty-two week high of $1,186.89.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $31.88 billion. During the same quarter in the previous year, the company earned $9.36 EPS. Alphabet’s revenue for the quarter was up 24.0% compared to the same quarter last year.
Alphabet declared that its board has authorized a stock buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
GOOG has been the topic of a number of recent research reports. UBS Group restated a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Piper Jaffray Companies raised their target price on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Finally, Vetr raised Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 target price for the company in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,072.37.
In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Friday, February 9th. The stock was sold at an average price of $1,018.01, for a total value of $4,072,040.00. Following the completion of the sale, the chief executive officer now directly owns 967 shares of the company’s stock, valued at approximately $984,415.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L John Doerr sold 11,575 shares of Alphabet stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 48,709 shares of company stock valued at $52,954,941. 13.92% of the stock is currently owned by insiders.
ILLEGAL ACTIVITY NOTICE: This report was reported by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.thelincolnianonline.com/2018/03/14/alphabet-inc-goog-stake-lowered-by-pure-financial-advisors-inc.html.
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.
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.