Professional Advisory Services Inc. reduced its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,361 shares of the information services provider’s stock after selling 687 shares during the quarter. Alphabet makes up approximately 4.1% of Professional Advisory Services Inc.’s holdings, making the stock its 4th largest holding. Professional Advisory Services Inc.’s holdings in Alphabet were worth $19,213,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Saratoga Research & Investment Management raised its position in Alphabet by 24.5% in the 4th quarter. Saratoga Research & Investment Management now owns 305 shares of the information services provider’s stock worth $319,000 after purchasing an additional 60 shares during the last quarter. Pioneer Trust Bank N A OR raised its position in Alphabet by 3.9% in the 4th quarter. Pioneer Trust Bank N A OR now owns 4,450 shares of the information services provider’s stock worth $4,656,000 after purchasing an additional 165 shares during the last quarter. State of Alaska Department of Revenue raised its position in Alphabet by 9,352.3% in the 4th quarter. State of Alaska Department of Revenue now owns 29,302 shares of the information services provider’s stock worth $30,660,000 after purchasing an additional 28,992 shares during the last quarter. Guidant Wealth Advisors raised its position in Alphabet by 1,975.0% in the 4th quarter. Guidant Wealth Advisors now owns 249 shares of the information services provider’s stock worth $276,000 after purchasing an additional 237 shares during the last quarter. Finally, Swarthmore Group Inc. bought a new position in Alphabet in the 4th quarter worth approximately $628,000. 34.86% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on GOOG shares. UBS restated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray Companies boosted their price objective on shares of Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Finally, Vetr upgraded shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 target price for the company in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $1,072.37.
Alphabet Inc (NASDAQ GOOG) opened at $1,135.73 on Friday. The firm has a market cap of $798,708.63, a price-to-earnings ratio of 35.91 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a one year low of $803.37 and a one year 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 Zacks’ consensus estimate of $10.07 by ($0.37). The company had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. Alphabet’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the company posted $9.36 earnings per share.
Alphabet declared that its Board of Directors has authorized a share buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total value of $191,846.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $1,018.01, for a total transaction of $4,072,040.00. Following the completion of the transaction, the chief executive officer now directly owns 967 shares of the company’s stock, valued at $984,415.67. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,709 shares of company stock valued at $52,954,941. Company insiders own 13.92% of the company’s stock.
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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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