Howard Capital Management lowered its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,003 shares of the information services provider’s stock after selling 208 shares during the period. Howard Capital Management’s holdings in Alphabet were worth $6,282,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of GOOG. Beach Investment Management LLC. purchased a new position in Alphabet during the second quarter valued at approximately $268,000. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Alphabet by 4.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 928,804 shares of the information services provider’s stock valued at $844,032,000 after acquiring an additional 40,521 shares in the last quarter. MUFG Americas Holdings Corp grew its stake in Alphabet by 6.9% during the second quarter. MUFG Americas Holdings Corp now owns 15,668 shares of the information services provider’s stock valued at $14,237,000 after acquiring an additional 1,017 shares in the last quarter. Lincoln National Corp grew its stake in Alphabet by 9.2% during the second quarter. Lincoln National Corp now owns 1,356 shares of the information services provider’s stock valued at $1,232,000 after acquiring an additional 114 shares in the last quarter. Finally, Twin Capital Management Inc. grew its stake in Alphabet by 28.3% during the second quarter. Twin Capital Management Inc. now owns 6,935 shares of the information services provider’s stock valued at $6,302,000 after acquiring an additional 1,530 shares in the last quarter. 34.84% of the stock is currently owned by institutional investors.
In other news, Director Ann Mather sold 37 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total value of $40,991.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director L John Doerr sold 11,575 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 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 90 days, insiders sold 48,709 shares of company stock valued at $52,954,941. Company insiders own 13.92% of the company’s stock.
Shares of Alphabet stock opened at $1,135.73 on Monday. The firm has a market cap of $789,085.88, a P/E ratio of 63.24 and a beta of 1.04. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1-year low of $803.37 and a 1-year high of $1,186.89.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.36 earnings per share.
Alphabet announced that its board has approved a share buyback 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 repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
Several brokerages recently commented on GOOG. Vetr cut shares of Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a research note on Wednesday, January 10th. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. SunTrust Banks boosted their price objective on shares of Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Atlantic Securities reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, UBS reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, eight have given 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 an average rating of “Buy” and a consensus price target of $1,072.37.
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Alphabet Company Profile
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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