Matthew Goff Investment Advisor LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 191 shares of the information services provider’s stock, valued at approximately $200,000.
A number of other institutional investors have also recently made changes to their positions in the business. Stuart Chaussee & Associates Inc. boosted its stake in shares of 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 purchasing an additional 52 shares in the last quarter. Price Wealth Management Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $125,000. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $132,000. WealthTrust Arizona LLC boosted its stake in shares of Alphabet by 134.9% in the 4th quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock valued at $155,000 after purchasing an additional 85 shares in the last quarter. Finally, Front Row Advisors LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $155,000. Hedge funds and other institutional investors own 34.25% of the company’s stock.
Alphabet stock opened at $1,069.73 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. Alphabet Inc. has a 52-week low of $894.79 and a 52-week high of $1,186.89. The company has a market cap of $750.25 billion, a price-to-earnings ratio of 33.38 and a beta of 1.09.
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 the consensus estimate of $9.28 by $0.65. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm had revenue of $31.15 billion during the quarter, compared to analyst estimates of $30.28 billion. During the same quarter last year, the business earned $7.73 EPS. The company’s revenue was up 25.8% compared to the same quarter last year.
Alphabet declared that its board has initiated a stock repurchase program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other Alphabet news, Director Ann Mather sold 37 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $1,107.87, for a total transaction of $40,991.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company’s stock, valued at approximately $647,841.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,211 shares of company stock valued at $57,322,275. Company insiders own 13.11% of the company’s stock.
GOOG has been the topic of a number of research analyst reports. Vetr upgraded shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price target on the stock in a research note on Tuesday, January 30th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Saturday, April 7th. Jefferies Group restated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Deutsche Bank restated a “buy” rating and issued a $1,225.00 price target on shares of Alphabet in a research note on Tuesday, April 24th. Finally, Pivotal Research reduced their price target on shares of Alphabet from $1,110.00 to $1,040.00 and set a “hold” rating on the stock in a research note on Monday, April 2nd. Six equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,130.86.
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.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.