Gerber Kawasaki Wealth & Investment Management increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,537 shares of the information services provider’s stock after purchasing an additional 84 shares during the quarter. Alphabet accounts for about 1.3% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 26th largest holding. Gerber Kawasaki Wealth & Investment Management’s holdings in Alphabet were worth $3,701,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Signature Estate & Investment Advisors LLC boosted its holdings in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the period. Glenview Trust Co boosted its holdings in Alphabet by 0.3% in the 2nd quarter. Glenview Trust Co now owns 1,878 shares of the information services provider’s stock worth $1,707,000 after acquiring an additional 6 shares during the period. Almanack Investment Partners LLC. boosted its holdings in Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after acquiring an additional 7 shares during the period. Comerica Securities Inc. boosted its holdings in Alphabet by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 1,598 shares of the information services provider’s stock worth $1,452,000 after acquiring an additional 7 shares during the period. Finally, Beaumont Financial Partners LLC boosted its holdings in Alphabet by 1.7% in the 2nd quarter. Beaumont Financial Partners LLC now owns 529 shares of the information services provider’s stock worth $480,000 after acquiring an additional 9 shares during the period. 34.84% of the stock is owned by hedge funds and other institutional investors.
In other Alphabet news, 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 sale, the director now directly owns 1,829 shares of the company’s stock, valued at $2,126,413.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $4,508,680.00. Following the completion of the sale, the chief executive officer now directly owns 656 shares in the company, valued at $739,423.52. The disclosure for this sale can be found here. Insiders sold 54,410 shares of company stock worth $58,606,136 over the last ninety days. 13.92% of the stock is owned by corporate insiders.
Shares of NASDAQ GOOG opened at $1,037.98 on Tuesday. Alphabet Inc. has a 1-year low of $824.47 and a 1-year high of $1,186.89. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $715,119.31, a price-to-earnings ratio of 32.39 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 for the quarter, missing the Thomson Reuters’ 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 company had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same period in the prior year, the business earned $9.36 earnings per share. Alphabet’s quarterly revenue was up 24.0% on a year-over-year basis.
Alphabet announced that its Board of Directors has authorized a stock buyback program 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. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
GOOG has been the subject of several research analyst reports. Vetr cut Alphabet from a “hold” rating to a “sell” rating and set a $1,019.04 target price for the company. in a research note on Wednesday, December 20th. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. UBS reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. Piper Jaffray increased 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 issued a strong buy rating to the company. Alphabet has an average rating of “Buy” and a consensus target price of $1,089.34.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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