Boothbay Fund Management LLC lowered its position in shares of Alphabet Inc (NASDAQ:GOOG) by 13.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 975 shares of the information services provider’s stock after selling 157 shares during the quarter. Boothbay Fund Management LLC’s holdings in Alphabet were worth $935,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in GOOG. Burt Wealth Advisors raised its holdings 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 valued at $123,000 after acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in shares of Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in shares of Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after acquiring an additional 832 shares during the last quarter. Almanack Investment Partners LLC. raised its holdings in shares of Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after acquiring an additional 7 shares during the last quarter. Finally, Catamount Wealth Management raised its holdings in shares of Alphabet by 5.8% during the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after acquiring an additional 10 shares during the last quarter. 34.34% of the stock is owned by institutional investors and hedge funds.
GOOG has been the subject of a number of research analyst reports. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Morningstar restated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray Companies upped their price target on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $1,064.49.
Alphabet Inc (NASDAQ GOOG) opened at $1,106.63 on Friday. Alphabet Inc has a 52-week low of $803.37 and a 52-week high of $1,186.89. The company has a market capitalization of $769,860.00, a price-to-earnings ratio of 34.47 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 released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the 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 firm had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the prior year, the business earned $9.36 earnings per share. The company’s quarterly revenue was up 24.0% on a year-over-year basis.
Alphabet announced that its Board of Directors has initiated a stock repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $1,106.68, for a total transaction of $4,426,720.00. Following the completion of the transaction, the chief executive officer now directly owns 642 shares in the company, valued at $710,488.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 38 shares of the firm’s 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 owns 1,813 shares of the company’s stock, valued at $1,841,645.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,010 shares of company stock valued at $45,958,216. Company insiders own 13.92% of the company’s stock.
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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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