Quantitative Investment Management LLC Has $24.07 Million Stake in Alphabet Inc. (GOOG)

Quantitative Investment Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 130.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,000 shares of the information services provider’s stock after acquiring an additional 13,000 shares during the quarter. Quantitative Investment Management LLC’s holdings in Alphabet were worth $24,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Perspective Advisors LLC raised its stake in shares of Alphabet by 2.1% during the fourth quarter. Clear Perspective Advisors LLC now owns 2,174 shares of the information services provider’s stock worth $2,275,000 after acquiring an additional 44 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Alphabet by 2.8% during the fourth quarter. TCI Wealth Advisors Inc. now owns 1,723 shares of the information services provider’s stock worth $1,803,000 after acquiring an additional 47 shares in the last quarter. Regent Investment Management LLC raised its stake in shares of Alphabet by 0.7% during the fourth quarter. Regent Investment Management LLC now owns 6,983 shares of the information services provider’s stock worth $7,307,000 after acquiring an additional 49 shares in the last quarter. Horan Capital Advisors LLC. raised its stake in shares of Alphabet by 4.2% during the third quarter. Horan Capital Advisors LLC. now owns 1,251 shares of the information services provider’s stock worth $1,200,000 after acquiring an additional 50 shares in the last quarter. Finally, Sii Investments Inc. WI raised its stake in shares of Alphabet by 3.8% during the third quarter. Sii Investments Inc. WI now owns 1,380 shares of the information services provider’s stock worth $1,337,000 after acquiring an additional 50 shares in the last quarter. 34.25% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $1,089.48, for a total transaction of $4,357,920.00. Following the sale, the chief executive officer now owns 953 shares in the company, valued at approximately $1,038,274.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 37 shares of the business’s 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. In the last quarter, insiders sold 53,211 shares of company stock worth $57,322,275. 13.11% of the stock is currently owned by company insiders.

Several research analysts have commented on GOOG shares. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. Jefferies Group reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Oppenheimer lifted their price target on shares of Alphabet from $1,340.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 24th. BidaskClub downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Finally, TheStreet downgraded shares of Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. Six analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,130.86.

NASDAQ:GOOG opened at $1,075.66 on Friday. The firm has a market capitalization of $750.01 billion, a P/E ratio of 31.55 and a beta of 1.09. Alphabet Inc. has a twelve month low of $894.79 and a twelve month high of $1,186.89. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.28 by $0.65. The business had revenue of $31.15 billion for the quarter, compared to analysts’ expectations of $30.28 billion. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.73 earnings per share.

Alphabet announced that its Board of Directors has approved a share buyback plan 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 reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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