Crawford Lake Capital Management LLC raised its position in shares of Alphabet Inc (NASDAQ:GOOG) by 68.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,727 shares of the information services provider’s stock after buying an additional 1,927 shares during the quarter. Alphabet comprises approximately 1.6% of Crawford Lake Capital Management LLC’s portfolio, making the stock its 24th biggest position. Crawford Lake Capital Management LLC’s holdings in Alphabet were worth $4,534,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Perennial Advisors LLC lifted its position in Alphabet by 8.7% during the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after buying an additional 260 shares during the period. Rothschild Capital Partners LLC purchased a new position in shares of Alphabet in the 3rd quarter worth about $3,161,000. One Capital Management LLC raised its position 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 last quarter. Northeast Investment Management raised its position in shares of Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after purchasing an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC raised its position 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 last quarter. 34.34% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently issued reports on the company. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 price target for the company in a research report on Monday, February 12th. TheStreet lowered Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. BidaskClub lowered Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Alphabet in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,064.49.
In other Alphabet news, Director L John Doerr sold 11,575 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,763,765.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the sale, the chief executive officer now owns 1,178 shares of the company’s stock, valued at $1,181,369.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,010 shares of company stock valued at $41,531,496. Corporate insiders own 13.92% of the company’s stock.
Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,094.80 on Tuesday. The stock has a market capitalization of $760,648.50, a PE ratio of 34.20 and a beta of 1.01. Alphabet Inc has a 52 week low of $803.37 and a 52 week high of $1,186.89. 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 released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion for 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 company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.36 earnings per share.
Alphabet announced that its board has initiated a share buyback plan on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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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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