Swarthmore Group Inc. acquired a new stake in shares of Alphabet Inc (NASDAQ:GOOG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 600 shares of the information services provider’s stock, valued at approximately $628,000.
Other hedge funds have also bought and sold shares of the company. Capital Advantage Inc. lifted its position in shares of Alphabet by 0.4% during the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after purchasing an additional 1 shares during the last quarter. First National Trust Co. raised its holdings in shares of Alphabet by 0.4% in the second quarter. First National Trust Co. now owns 713 shares of the information services provider’s stock valued at $647,000 after acquiring an additional 3 shares in the last quarter. Marathon Capital Management raised its holdings in shares of Alphabet by 1.2% in the second quarter. Marathon Capital Management now owns 436 shares of the information services provider’s stock valued at $396,000 after acquiring an additional 5 shares in the last quarter. Blue Edge Capital LLC raised its holdings in shares of Alphabet by 0.6% in the second quarter. Blue Edge Capital LLC now owns 908 shares of the information services provider’s stock valued at $825,000 after acquiring an additional 5 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC raised its holdings in shares of Alphabet by 3.8% in 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 in the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the completion of the transaction, the chief executive officer now directly owns 656 shares in the company, valued at approximately $739,423.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 38 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $1,162.61, for a total value of $44,179.18. Following the transaction, the director now owns 1,829 shares of the company’s stock, valued at $2,126,413.69. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,720 shares of company stock valued at $52,755,337. 13.92% of the stock is owned by company insiders.
NASDAQ GOOG traded down $20.77 during mid-day trading on Friday, hitting $1,007.04. The stock had a trading volume of 1,746,430 shares, compared to its average volume of 2,203,148. Alphabet Inc has a twelve month low of $817.02 and a twelve month high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The company has a market cap of $714,105.00, a P/E ratio of 31.42 and a beta of 1.08.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The company had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.36 earnings per share.
Alphabet declared that its board has initiated a stock 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. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several analysts recently weighed in on GOOG shares. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Vetr lowered Alphabet from a “hold” rating to a “sell” rating and set a $1,019.04 target price on the stock. in a research note on Wednesday, December 20th. UBS reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. Piper Jaffray lifted their target price on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. Finally, Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $1,089.34.
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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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