Commerzbank Aktiengesellschaft FI Buys 22,550 Shares of Alphabet Inc (GOOG)

Commerzbank Aktiengesellschaft FI increased its stake in Alphabet Inc (NASDAQ:GOOG) by 25.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,819 shares of the information services provider’s stock after buying an additional 22,550 shares during the quarter. Alphabet comprises 1.4% of Commerzbank Aktiengesellschaft FI’s portfolio, making the stock its 12th largest position. Commerzbank Aktiengesellschaft FI’s holdings in Alphabet were worth $108,206,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Burt Wealth Advisors boosted its holdings in Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 5 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in Alphabet by 400.0% in the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after purchasing an additional 832 shares during the last quarter. Almanack Investment Partners LLC. boosted its holdings in Alphabet by 4.5% in the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 7 shares during the last quarter. Finally, Catamount Wealth Management boosted its holdings in Alphabet by 5.8% in the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

Alphabet Inc (NASDAQ:GOOG) opened at $1,089.52 on Friday. Alphabet Inc has a 1 year low of $803.37 and a 1 year high of $1,186.89. The stock has a market capitalization of $758,200.00, a price-to-earnings ratio of 60.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same quarter last year, the business posted $9.36 earnings per share. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year.

Alphabet declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

A number of research analysts recently commented on GOOG shares. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Piper Jaffray Companies reissued an “overweight” rating and issued a $1,150.00 price target on shares of Alphabet in a report on Thursday, October 19th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, SunTrust Banks increased their target price on Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $1,064.49.

In related news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total value of $38,600.40. Following the transaction, the director now directly owns 1,813 shares in the company, valued at approximately $1,841,645.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of Alphabet stock in a transaction on Monday, February 12th. The stock was sold at an average price of $1,052.50, for a total value of $5,988,725.00. Following the completion of the transaction, the senior vice president now owns 2,897 shares in the company, valued at $3,049,092.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,010 shares of company stock worth $41,531,496. 13.92% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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