Taurus Asset Management LLC cut its stake in Alphabet Inc (NASDAQ:GOOG) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,710 shares of the information services provider’s stock after selling 250 shares during the period. Alphabet makes up about 3.8% of Taurus Asset Management LLC’s portfolio, making the stock its 3rd biggest holding. Taurus Asset Management LLC’s holdings in Alphabet were worth $24,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Beach Investment Management LLC. acquired a new position in shares of Alphabet during the 2nd quarter worth $268,000. TD Asset Management Inc. raised its holdings in shares of Alphabet by 2.6% during the 2nd quarter. TD Asset Management Inc. now owns 442,363 shares of the information services provider’s stock worth $401,988,000 after buying an additional 11,179 shares in the last quarter. AKO Capital LLP raised its holdings in shares of Alphabet by 6.8% during the 2nd quarter. AKO Capital LLP now owns 51,624 shares of the information services provider’s stock worth $46,912,000 after buying an additional 3,289 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in shares of Alphabet by 1.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 426,645 shares of the information services provider’s stock worth $411,653,000 after buying an additional 4,208 shares in the last quarter. Finally, Advisor Partners LLC raised its holdings in shares of Alphabet by 11.2% during the 2nd quarter. Advisor Partners LLC now owns 5,684 shares of the information services provider’s stock worth $5,165,000 after buying an additional 574 shares in the last quarter. 34.34% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the transaction, the chief executive officer now directly owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The sale 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 business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total value of $12,500,884.25. Following the completion of the transaction, the director now directly owns 3,485 shares in the company, valued at $3,763,765.15. The disclosure for this sale can be found here. Insiders sold a total of 43,010 shares of company stock worth $45,958,216 over the last three months. 13.92% of the stock is owned by company insiders.
Alphabet Inc (NASDAQ GOOG) opened at $1,106.63 on Friday. The stock has a market capitalization of $769,860.00, a PE ratio of 34.47 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a 52 week low of $803.37 and a 52 week high of $1,186.89.
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). The business had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.36 earnings per share.
Alphabet declared that its board has authorized a share repurchase 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts recently weighed in on GOOG shares. 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. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Stifel Nicolaus restated a “neutral” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, Robert W. Baird restated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,064.49.
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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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