Bartlett & Co. LLC reduced its position in Alphabet Inc (NASDAQ:GOOG) by 2.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 43,631 shares of the information services provider’s stock after selling 904 shares during the period. Alphabet accounts for approximately 1.8% of Bartlett & Co. LLC’s portfolio, making the stock its 15th largest holding. Bartlett & Co. LLC’s holdings in Alphabet were worth $45,655,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GOOG. Burt Wealth Advisors grew its holdings in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares in the last quarter. Archford Capital Strategies LLC grew its holdings in Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after buying an additional 832 shares in the last quarter. Almanack Investment Partners LLC. grew its holdings in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after buying an additional 7 shares in the last quarter. Finally, WealthTrust Arizona LLC grew its holdings in Alphabet by 134.9% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 34.85% of the company’s stock.
GOOG stock traded down $20.77 during midday trading on Friday, hitting $1,007.04. The company had a trading volume of 1,746,430 shares, compared to its average volume of 2,203,148. 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 52 week low of $817.02 and a 52 week high of $1,186.89. The company has a market capitalization of $699,674.25, a P/E ratio of 31.42 and a beta of 1.08.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same quarter in the previous year, the firm posted $9.36 EPS. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year.
Alphabet declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of research firms have weighed in on GOOG. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a report on Saturday. Pivotal Research cut their price objective on Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating for the company in a report on Monday, April 2nd. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,197.56 price objective for the company in a report on Monday, March 26th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Tuesday, February 27th. Finally, TheStreet lowered Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $1,089.34.
In related news, Director Ann Mather sold 37 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total transaction of $40,991.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the transaction, the chief executive officer now owns 656 shares of the company’s stock, valued at approximately $739,423.52. The disclosure for this sale can be found here. Insiders sold 48,720 shares of company stock valued at $52,755,337 in the last quarter. 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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