River Road Asset Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.1% in the fourth quarter, Holdings Channel reports. The firm owned 1,681 shares of the information services provider’s stock after selling 346 shares during the period. River Road Asset Management LLC’s holdings in Alphabet were worth $1,759,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. grew its position in Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after acquiring an additional 52 shares in the last quarter. Price Wealth Management Inc. acquired a new position in Alphabet in the 4th quarter valued at about $125,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $132,000. WealthTrust Arizona LLC grew its position in shares of Alphabet by 134.9% during the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after buying an additional 85 shares in the last quarter. Finally, Front Row Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $155,000. 34.84% of the stock is owned by hedge funds and other institutional investors.
In other 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Grier Campbell sold 238 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $1,162.61, for a total value of $276,701.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,410 shares of company stock valued at $58,408,136. 13.92% of the stock is owned by company insiders.
Shares of NASDAQ GOOG opened at $1,072.08 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc. has a twelve month low of $836.29 and a twelve month high of $1,186.89. The company has a market capitalization of $721,170.88, a price-to-earnings ratio of 33.45 and a beta of 1.08.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 net margin of 11.42% and a return on equity of 14.94%. The firm had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the prior year, the firm posted $9.36 EPS. Alphabet’s quarterly revenue was up 24.0% compared to the same quarter last year.
Alphabet announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
GOOG has been the subject of a number of analyst reports. UBS reissued a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Morningstar reissued a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. Piper Jaffray boosted their price objective on Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Finally, Vetr raised Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price objective for the company in a research report on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,088.68.
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Alphabet Company Profile
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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