Boston Family Office LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,533 shares of the information services provider’s stock after buying an additional 531 shares during the period. Boston Family Office LLC’s holdings in Alphabet were worth $7,883,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. boosted its stake in shares of Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after purchasing an additional 52 shares in the last quarter. Price Wealth Management Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $125,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $132,000. WealthTrust Arizona LLC raised its holdings in 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 buying an additional 85 shares during the last quarter. Finally, Front Row Advisors LLC bought a new position in Alphabet in the 4th quarter valued at approximately $155,000. Hedge funds and other institutional investors own 34.84% of the company’s stock.
In related news, 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 owns 3,485 shares of the company’s stock, valued at approximately $3,763,765.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 37 shares of Alphabet stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total transaction of $40,991.19. The disclosure for this sale can be found here. Insiders sold a total of 54,410 shares of company stock valued at $58,408,136 in the last quarter. 13.92% of the stock is currently owned by company insiders.
NASDAQ:GOOG opened at $1,072.08 on Thursday. The firm has a market capitalization of $721,170.88, a PE ratio of 33.45 and a beta of 1.08. 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 twelve month low of $836.29 and a twelve month high of $1,186.89.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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). The company had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.36 EPS.
Alphabet announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of research analysts recently issued reports on the stock. Vetr lowered shares of Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a report on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. SunTrust Banks raised their price objective on shares of Alphabet to $1,250.00 and gave the company a “buy” rating in a report on Friday, January 12th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, JPMorgan Chase reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-four have issued a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,088.68.
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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