Welch Capital Partners LLC NY reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,990 shares of the information services provider’s stock after selling 3,409 shares during the quarter. Alphabet comprises approximately 3.4% of Welch Capital Partners LLC NY’s holdings, making the stock its 7th largest position. Welch Capital Partners LLC NY’s holdings in Alphabet were worth $9,407,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Stuart Chaussee & Associates Inc. grew its holdings in shares of Alphabet by 108.3% in the fourth 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. purchased a new position in shares of Alphabet in the fourth quarter valued at $125,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Alphabet in the fourth quarter valued at $132,000. WealthTrust Arizona LLC grew its holdings in shares of Alphabet by 134.9% in the fourth 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 purchased a new position in shares of Alphabet in the fourth quarter valued at $155,000. 34.80% of the stock is owned by institutional investors and hedge funds.
In other Alphabet news, Director Ann Mather sold 37 shares of Alphabet stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total value of $40,991.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director L John Doerr sold 11,575 shares of Alphabet stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $1,079.99, for a total value of $12,500,884.25. Following the completion of the transaction, the director now owns 3,485 shares in the company, valued at approximately $3,763,765.15. The disclosure for this sale can be found here. Insiders sold 57,223 shares of company stock valued at $61,199,974 over the last 90 days. 13.92% of the stock is currently owned by corporate insiders.
Shares of NASDAQ:GOOG traded down $0.88 on Wednesday, hitting $1,053.91. 1,217,500 shares of the company’s stock were exchanged, compared to its average volume of 1,889,515. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02. The company has a market cap of $733.02 billion, a price-to-earnings ratio of 32.88 and a beta of 1.09. Alphabet Inc. has a 12 month low of $894.79 and a 12 month high of $1,186.89.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.28 by $0.65. The firm had revenue of $31.15 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $7.73 earnings per share.
Alphabet declared that its board has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently weighed in on GOOG. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 26th. JPMorgan Chase reissued a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, Atlantic Securities restated a “buy” rating on shares of Alphabet in a research 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 stock currently has a consensus rating of “Buy” and an average price target of $1,130.86.
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.