AE Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 10.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 546 shares of the information services provider’s stock after purchasing an additional 52 shares during the period. AE Wealth Management LLC’s holdings in Alphabet were worth $571,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Signature Estate & Investment Advisors LLC lifted its position in shares of 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 acquiring an additional 5 shares during the last quarter. Glenview Trust Co lifted its position in shares of Alphabet by 0.3% during the 2nd quarter. Glenview Trust Co now owns 1,878 shares of the information services provider’s stock valued at $1,707,000 after acquiring an additional 6 shares during the last quarter. Almanack Investment Partners LLC. lifted its position in shares of 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 acquiring an additional 7 shares during the last quarter. Comerica Securities Inc. lifted its position in shares of Alphabet by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 1,598 shares of the information services provider’s stock valued at $1,452,000 after acquiring an additional 7 shares during the last quarter. Finally, Beaumont Financial Partners LLC lifted its position in shares of Alphabet by 1.7% during the 2nd quarter. Beaumont Financial Partners LLC now owns 529 shares of the information services provider’s stock valued at $480,000 after acquiring an additional 9 shares during the last quarter. Hedge funds and other institutional investors own 34.84% of the company’s stock.
NASDAQ GOOG opened at $1,074.16 on Wednesday. Alphabet Inc. has a 1-year low of $832.71 and a 1-year 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 firm has a market capitalization of $715,119.31, a PE ratio of 33.52 and a beta of 1.08.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ 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 last year, the company posted $9.36 earnings per share. The company’s revenue was up 24.0% compared to the same quarter last year.
Alphabet declared that its board has approved a stock buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
GOOG has been the subject of a number of recent research reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Jefferies Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price objective for the company in a research report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-four have issued a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,088.68.
In other Alphabet news, Director L John Doerr sold 11,575 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total transaction of $12,500,884.25. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at $3,763,765.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP David C. Drummond sold 5,690 shares of the stock in a transaction on Thursday, April 12th. The stock was sold at an average price of $1,028.26, for a total transaction of $5,850,799.40. Following the transaction, the senior vice president now directly owns 4,220 shares in the company, valued at $4,339,257.20. The disclosure for this sale can be found here. Insiders sold 50,410 shares of company stock worth $54,097,456 over the last ninety days. 13.92% of the stock is currently owned by company insiders.
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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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