Alphabet Inc (GOOG) Stake Raised by Ruane Cunniff & Goldfarb Inc.

Ruane Cunniff & Goldfarb Inc. increased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 87.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 828,631 shares of the information services provider’s stock after buying an additional 386,289 shares during the quarter. Alphabet accounts for 7.0% of Ruane Cunniff & Goldfarb Inc.’s investment portfolio, making the stock its 2nd largest holding. Ruane Cunniff & Goldfarb Inc.’s holdings in Alphabet were worth $794,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Investment Advisory Services LLC grew its holdings in Alphabet by 0.4% during the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after buying an additional 1 shares in the last quarter. Capital Advantage Inc. grew its holdings in Alphabet by 0.4% during the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after buying an additional 1 shares in the last quarter. Financial Consulate Inc. grew its holdings in Alphabet by 1.2% during the second quarter. Financial Consulate Inc. now owns 262 shares of the information services provider’s stock worth $238,000 after buying an additional 3 shares in the last quarter. Fiduciary Financial Services of The Southwest Inc. TX grew its holdings in Alphabet by 0.3% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 874 shares of the information services provider’s stock worth $794,000 after buying an additional 3 shares in the last quarter. Finally, First National Trust Co. grew its holdings in Alphabet by 0.4% during the second quarter. First National Trust Co. now owns 713 shares of the information services provider’s stock worth $647,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 34.46% of the company’s stock.

Several brokerages recently issued reports on GOOG. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 10th. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a report on Thursday, February 1st. JMP Securities reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective on the stock. in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,064.49.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,094.80 on Friday. The stock has a market capitalization of $760,648.50, a PE ratio of 34.20 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet Inc has a 1-year low of $803.37 and a 1-year high of $1,186.89.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The company had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period last year, the company posted $9.36 EPS.

Alphabet declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

In other Alphabet news, Director L John Doerr sold 11,575 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,763,765.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 38 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total value of $38,600.40. Following the completion of the transaction, the director now owns 1,813 shares in the company, valued at $1,841,645.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,010 shares of company stock worth $41,531,496 in the last three months. 13.92% of the stock is currently owned by insiders.

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Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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