Pioneer Trust Bank N A OR boosted its position in shares of Alphabet Inc (NASDAQ:GOOG) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,450 shares of the information services provider’s stock after acquiring an additional 165 shares during the period. Alphabet accounts for about 2.3% of Pioneer Trust Bank N A OR’s investment portfolio, making the stock its 20th largest position. Pioneer Trust Bank N A OR’s holdings in Alphabet were worth $4,656,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its position in shares of Alphabet by 9,352.3% during the fourth quarter. State of Alaska Department of Revenue now owns 29,302 shares of the information services provider’s stock valued at $30,660,000 after buying an additional 28,992 shares during the last quarter. Guidant Wealth Advisors raised its position in shares of Alphabet by 1,975.0% during the fourth quarter. Guidant Wealth Advisors now owns 249 shares of the information services provider’s stock valued at $276,000 after buying an additional 237 shares during the last quarter. Swarthmore Group Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $628,000. WealthTrust Arizona LLC raised its position in shares of Alphabet by 134.9% during the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock valued at $155,000 after buying an additional 85 shares during the last quarter. Finally, Community Financial Services Group LLC raised its position in shares of Alphabet by 2.7% during the fourth quarter. Community Financial Services Group LLC now owns 2,353 shares of the information services provider’s stock valued at $2,462,000 after buying an additional 62 shares during the last quarter. Institutional investors own 34.85% of the company’s stock.
Shares of NASDAQ:GOOG traded down $20.77 on Friday, hitting $1,007.04. 1,740,421 shares of the company’s stock were exchanged, compared to its average volume of 2,203,148. Alphabet Inc has a 12 month low of $817.02 and a 12 month high of $1,186.89. The company has a market cap of $714,105.00, a price-to-earnings ratio of 31.42 and a beta of 1.08. 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 (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share 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 business had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. During the same quarter last year, the business posted $9.36 earnings per share. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year.
Alphabet announced that its board has authorized a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several equities research analysts have recently issued reports on GOOG shares. UBS reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray lifted their price objective on shares of 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, Vetr upgraded shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price objective on the stock in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,089.34.
In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $993.80, for a total transaction of $3,975,200.00. Following the completion of the sale, the chief executive officer now directly owns 940 shares in the company, valued at $934,172. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 37 shares of Alphabet stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total value of $40,991.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,720 shares of company stock valued at $52,755,337. Corporate 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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