Northeast Investment Management lowered its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 7.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,729 shares of the information services provider’s stock after selling 949 shares during the period. Northeast Investment Management’s holdings in Alphabet were worth $11,249,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of GOOG. Perennial Advisors LLC lifted its stake in shares of Alphabet by 8.7% in the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after purchasing an additional 260 shares during the period. Rothschild Capital Partners LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $3,161,000. One Capital Management LLC lifted its stake in shares of Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after purchasing an additional 154 shares during the period. Taurus Asset Management LLC lifted its stake in shares of Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after purchasing an additional 220 shares during the period. Finally, Founders Capital Management LLC lifted its stake in shares of Alphabet by 1,868.4% in the 3rd quarter. Founders Capital Management LLC now owns 9,468 shares of the information services provider’s stock worth $9,081,000 after purchasing an additional 8,987 shares during the period. Institutional investors and hedge funds own 34.46% of the company’s stock.
In related news, VP James Grier Campbell sold 238 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total value of $276,701.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L John Doerr sold 11,575 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the completion of the transaction, the director now directly 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 three months, insiders sold 39,010 shares of company stock valued at $41,531,496. 13.92% of the stock is currently owned by insiders.
Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,094.80 on Monday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet Inc has a fifty-two week low of $803.37 and a fifty-two week high of $1,186.89. The stock has a market cap of $761,050.00, a P/E ratio of 34.11 and a beta of 1.01.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. During the same period last year, the business earned $9.36 earnings per share. The company’s quarterly revenue was up 24.0% compared to the same quarter last year.
Alphabet declared that its board has authorized a share 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 purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
GOOG has been the topic of several recent research reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. SunTrust Banks increased their price objective on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Stifel Nicolaus reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 25th. One equities research 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 stock presently has a consensus rating of “Buy” and an average price target of $1,064.49.
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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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