Solstein Capital LLC Takes Position in Alphabet Inc. (GOOG)

Solstein Capital LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 961 shares of the information services provider’s stock, valued at approximately $1,006,000. Alphabet makes up approximately 5.3% of Solstein Capital LLC’s portfolio, making the stock its 5th largest position.

Several other hedge funds have also bought and sold shares of GOOG. Asset Management One Co. Ltd. raised its position in shares of Alphabet by 1,106.8% in the 3rd quarter. Asset Management One Co. Ltd. now owns 504,094 shares of the information services provider’s stock worth $483,141,000 after acquiring an additional 462,324 shares in the last quarter. Egerton Capital UK LLP bought a new position in shares of Alphabet in the 4th quarter worth about $462,663,000. Ruane Cunniff & Goldfarb Inc. raised its position in shares of Alphabet by 87.3% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 828,631 shares of the information services provider’s stock worth $794,748,000 after acquiring an additional 386,289 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Alphabet by 25.5% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 997,418 shares of the information services provider’s stock worth $1,043,696,000 after acquiring an additional 202,975 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Alphabet by 11.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,012,145 shares of the information services provider’s stock worth $2,105,510,000 after acquiring an additional 202,288 shares in the last quarter. 34.25% of the stock is owned by hedge funds and other institutional investors.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $1,077.94, for a total transaction of $4,311,760.00. Following the transaction, the chief executive officer now owns 601 shares of the company’s stock, valued at approximately $647,841.94. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director L John Doerr sold 11,563 shares of Alphabet stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $1,081.12, for a total transaction of $12,500,990.56. Following the transaction, the director now directly owns 3,485 shares in the company, valued at approximately $3,767,703.20. The disclosure for this sale can be found here. Insiders have sold a total of 53,211 shares of company stock valued at $57,322,275 in the last quarter. Company insiders own 13.11% of the company’s stock.

Alphabet opened at $1,075.66 on Friday, Marketbeat.com reports. The stock has a market cap of $747.52 billion, a price-to-earnings ratio of 31.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. Alphabet Inc. has a 52-week low of $894.79 and a 52-week high of $1,186.89.

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

Alphabet declared that its board has approved a stock buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Several research firms have recently weighed in on GOOG. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Atlantic Securities reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Jefferies Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,130.86.

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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