Ruane Cunniff & Goldfarb Inc. Has $794.75 Million Position in Alphabet Inc (GOOG)

Ruane Cunniff & Goldfarb Inc. increased its stake in Alphabet Inc (NASDAQ:GOOG) by 87.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 828,631 shares of the information services provider’s stock after purchasing an additional 386,289 shares during the period. Alphabet makes up 7.0% of Ruane Cunniff & Goldfarb Inc.’s holdings, making the stock its 2nd biggest holding. Ruane Cunniff & Goldfarb Inc. owned 0.12% of Alphabet worth $794,748,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOG. Stratos Wealth Partners LTD. grew its position in Alphabet by 30.4% in the second quarter. Stratos Wealth Partners LTD. now owns 6,477 shares of the information services provider’s stock valued at $5,886,000 after acquiring an additional 1,509 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in Alphabet by 4.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 23,964 shares of the information services provider’s stock valued at $21,778,000 after acquiring an additional 987 shares during the last quarter. Welch & Forbes LLC grew its position in Alphabet by 1.5% in the second quarter. Welch & Forbes LLC now owns 57,401 shares of the information services provider’s stock valued at $52,162,000 after acquiring an additional 872 shares during the last quarter. Korea Investment CORP grew its position in Alphabet by 6.7% in the second quarter. Korea Investment CORP now owns 241,703 shares of the information services provider’s stock valued at $219,643,000 after acquiring an additional 15,077 shares during the last quarter. Finally, Rand Wealth LLC grew its position in Alphabet by 5.7% in the second quarter. Rand Wealth LLC now owns 2,807 shares of the information services provider’s stock valued at $2,551,000 after acquiring an additional 151 shares during the last quarter. Institutional investors own 34.46% of the company’s stock.

A number of research analysts have issued reports on GOOG shares. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. SunTrust Banks lifted their price target on Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Stifel Nicolaus reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $1,064.49.

In other news, Director Ann Mather sold 38 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the completion of the sale, the director now owns 1,813 shares in the company, valued at $1,841,645.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director L John Doerr sold 11,575 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,763,765.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,010 shares of company stock valued at $41,531,496. Corporate insiders own 13.92% of the company’s stock.

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

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $9.36 EPS.

Alphabet announced that its board has approved a stock buyback plan on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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About Alphabet

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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