MERIAN GLOBAL INVESTORS UK Ltd boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 95,294 shares of the information services provider’s stock after acquiring an additional 1,925 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Alphabet were worth $113,730,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Braun Bostich & Associates Inc. acquired a new stake in Alphabet in the 1st quarter worth approximately $107,000. JJJ Advisors Inc. bought a new position in Alphabet in the 2nd quarter worth approximately $134,000. ELM Advisors LLC bought a new position in Alphabet in the 3rd quarter worth approximately $138,000. LFA Lugano Financial Advisors SA bought a new position in Alphabet in the 3rd quarter worth approximately $161,000. Finally, Blackhawk Capital Partners LLC. increased its position in Alphabet by 148.6% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 174 shares of the information services provider’s stock worth $194,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 40.45% of the company’s stock.
GOOG has been the topic of several recent analyst reports. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, August 15th. BidaskClub downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a research report on Friday, August 17th. Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, August 17th. Finally, Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $1,301.81.
Alphabet stock opened at $1,063.68 on Thursday. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $731.89 billion, a price-to-earnings ratio of 23.67 and a beta of 1.15. Alphabet Inc has a 52 week low of $980.64 and a 52 week high of $1,273.89.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion for the quarter.
In other news, VP Amie Thuener O’toole sold 80 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $1,190.96, for a total transaction of $95,276.80. Following the transaction, the vice president now owns 388 shares of the company’s stock, valued at $462,092.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $1,160.42, for a total value of $11,604,200.00. Following the transaction, the chief executive officer now directly owns 546 shares in the company, valued at approximately $633,589.32. The disclosure for this sale can be found here. Insiders have sold 89,435 shares of company stock worth $97,794,636 in the last ninety days. 13.11% of the stock is currently owned by 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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