Suvretta Capital Management LLC Acquires 24,102 Shares of Alphabet Inc (GOOG)

Suvretta Capital Management LLC lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 295,257 shares of the information services provider’s stock after buying an additional 24,102 shares during the period. Alphabet makes up approximately 8.0% of Suvretta Capital Management LLC’s holdings, making the stock its 6th largest position. Suvretta Capital Management LLC’s holdings in Alphabet were worth $283,184,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Burt Wealth Advisors boosted its stake in shares of Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares during the period. Signature Estate & Investment Advisors LLC raised its holdings in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares in the last quarter. Archford Capital Strategies LLC raised its holdings in Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares in the last quarter. Almanack Investment Partners LLC. raised its holdings in Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares in the last quarter. Finally, Catamount Wealth Management raised its holdings in Alphabet by 5.8% during the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after purchasing an additional 10 shares in the last quarter. Institutional investors and hedge funds own 34.34% of the company’s stock.

In other news, Director L John Doerr sold 11,575 shares of the firm’s stock in a transaction that occurred 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 approximately $3,763,765.15. The sale 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 firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the sale, the chief executive officer now owns 1,178 shares in the company, valued at approximately $1,181,369.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,010 shares of company stock valued at $41,531,496. Corporate insiders own 13.92% of the company’s stock.

Several research analysts recently issued reports on the stock. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 price target for the company in a report on Monday, February 12th. TheStreet cut shares of Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a report on Monday, February 5th. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a report on Friday, February 2nd. Finally, Piper Jaffray Companies reissued an “overweight” rating on shares of Alphabet in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,064.49.

Alphabet Inc (NASDAQ:GOOG) opened at $1,111.34 on Thursday. 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 Inc has a 12 month low of $803.37 and a 12 month high of $1,186.89. The firm has a market cap of $765,970.44, a P/E ratio of 61.88 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business 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 revenue for the quarter was up 24.0% on a year-over-year basis.

Alphabet announced that its Board of Directors has initiated a share 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. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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