Arlington Financial Advisors LLC acquired a new stake in Alphabet Inc (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,344 shares of the information services provider’s stock, valued at approximately $1,580,000.
Several other institutional investors and hedge funds also recently modified their holdings of GOOG. Janus Henderson Group PLC raised its position in shares of Alphabet by 759.0% in the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after purchasing an additional 2,831,099 shares during the period. Koch Industries Inc. raised its position in shares of Alphabet by 214,636.6% in the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after purchasing an additional 1,161,184 shares during the period. BlackRock Inc. raised its position in shares of Alphabet by 4.8% in the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the period. Capital World Investors raised its position in shares of Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Alphabet by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after purchasing an additional 589,654 shares during the period. 34.85% of the stock is currently owned by institutional investors.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $993.80, for a total value of $3,975,200.00. Following the sale, the chief executive officer now directly owns 940 shares in the company, valued at approximately $934,172. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total transaction of $40,991.19. The disclosure for this sale can be found here. Insiders have sold 48,720 shares of company stock worth $52,755,337 over the last quarter. Corporate insiders own 13.92% of the company’s stock.
Shares of Alphabet stock opened at $1,007.04 on Friday. The stock has a market cap of $712,249.88, a price-to-earnings ratio of 31.42 and a beta of 1.08. 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 $817.02 and a 12-month 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 firm had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company’s quarterly revenue was up 24.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.36 earnings per share.
Alphabet announced that its board has authorized a share 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 often an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently weighed in on GOOG shares. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. TheStreet lowered shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Finally, Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price target on the stock in a research report on Monday, March 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,089.34.
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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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