Burney Co. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,733 shares of the information services provider’s stock, valued at approximately $1,813,000.
Several other institutional investors have also made changes to their positions in GOOG. Icon Wealth Partners LLC acquired a new position in Alphabet during the 4th quarter worth about $256,000. Lazard Asset Management LLC lifted its stake in Alphabet by 16.3% during the 4th quarter. Lazard Asset Management LLC now owns 374,132 shares of the information services provider’s stock worth $391,490,000 after acquiring an additional 52,475 shares in the last quarter. Harwood Advisory Group LLC lifted its stake in Alphabet by 35.5% during the 4th quarter. Harwood Advisory Group LLC now owns 1,167 shares of the information services provider’s stock worth $1,218,000 after acquiring an additional 306 shares in the last quarter. James Hambro & Partners acquired a new position in Alphabet during the 4th quarter worth about $25,195,000. Finally, Sand Hill Global Advisors LLC lifted its stake in Alphabet by 6.2% during the 4th quarter. Sand Hill Global Advisors LLC now owns 1,236 shares of the information services provider’s stock worth $1,294,000 after acquiring an additional 72 shares in the last quarter. 34.78% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. TheStreet lowered Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. BidaskClub lowered Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Deutsche Bank restated a “buy” rating on shares of Alphabet in a report on Monday, January 29th. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target on the stock. in a report on Friday, February 2nd. Finally, Robert W. Baird restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,130.86.
Alphabet opened at $1,081.77 on Thursday, according to MarketBeat Ratings. Alphabet Inc. has a one year low of $1,076.38 and a one year high of $1,088.16. The stock has a market capitalization of $764.58 billion, a PE ratio of 33.75 and a beta of 1.09. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.28 by $0.65. The firm had revenue of $31.15 billion for the quarter, compared to the consensus estimate of $30.28 billion. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $7.73 EPS.
Alphabet declared that its board has initiated a share repurchase 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 buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $1,077.94, for a total transaction of $4,311,760.00. Following the transaction, the chief executive officer now owns 601 shares in the company, valued at approximately $647,841.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director L John Doerr sold 11,563 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $1,081.12, for a total value of $12,500,990.56. Following the transaction, the director now owns 3,485 shares in the company, valued at approximately $3,767,703.20. The disclosure for this sale can be found here. Insiders have sold a total of 57,211 shares of company stock worth $61,748,995 in the last 90 days. 13.92% of the stock is currently owned by company insiders.
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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