Other institutional investors and hedge funds also recently bought and sold shares of the company. Rothschild Capital Partners LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $3,161,000. Founders Capital Management LLC increased its position in Alphabet by 1,868.4% during the 3rd quarter. Founders Capital Management LLC now owns 9,468 shares of the information services provider’s stock worth $9,081,000 after purchasing an additional 8,987 shares during the period. Argent Trust Co increased its position in Alphabet by 3.7% during the 3rd quarter. Argent Trust Co now owns 2,110 shares of the information services provider’s stock worth $2,024,000 after purchasing an additional 75 shares during the period. Commonwealth Equity Services Inc increased its position in Alphabet by 4.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 47,546 shares of the information services provider’s stock worth $45,602,000 after purchasing an additional 1,999 shares during the period. Finally, Ninepoint Partners LP acquired a new position in Alphabet during the 3rd quarter worth approximately $1,881,000. 34.80% of the stock is owned by hedge funds and other institutional investors.
IBM Retirement Fund raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,902 shares of the information services provider’s stock after acquiring an additional 391 shares during the period. Alphabet makes up 1.5% of IBM Retirement Fund’s investment portfolio, making the stock its 9th biggest holding. IBM Retirement Fund’s holdings in Alphabet were worth $9,026,000 as of its most recent filing with the Securities & Exchange Commission.
Shares of Alphabet stock opened at $1,053.91 on Wednesday. Alphabet Inc. has a fifty-two week low of $894.79 and a fifty-two week high of $1,186.89. The firm has a market cap of $728.45 billion, a price-to-earnings ratio of 32.88 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.85 and a current ratio of 4.87.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.28 by $0.65. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The company had revenue of $31.15 billion for the quarter, compared to analyst estimates of $30.28 billion. During the same quarter in the prior year, the company posted $7.73 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year.
Alphabet declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Several research firms have issued reports on GOOG. TheStreet cut Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. Deutsche Bank reiterated a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target on the stock. in a report on Wednesday, January 10th. Finally, Stifel Nicolaus cut 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. Five investment analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $1,130.86.
In related news, Director L John Doerr sold 11,575 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $1,079.99, for a total value of $12,500,884.25. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,763,765.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $1,018.01, for a total value of $4,072,040.00. Following the completion of the transaction, the chief executive officer now directly owns 967 shares in the company, valued at $984,415.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,223 shares of company stock worth $61,199,974. Corporate insiders own 13.92% of the company’s stock.
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.