Citizens Financial Group Inc. RI Cuts Position in Alphabet Inc (GOOG)

Citizens Financial Group Inc. RI reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 3.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,260 shares of the information services provider’s stock after selling 399 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Alphabet were worth $10,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Perennial Advisors LLC lifted its position in Alphabet by 8.7% during the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after buying an additional 260 shares in the last quarter. Rothschild Capital Partners LLC acquired a new position in shares of Alphabet during the 3rd quarter worth about $3,161,000. One Capital Management LLC increased its stake in shares of Alphabet by 5.0% during the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after purchasing an additional 154 shares during the last quarter. Northeast Investment Management increased its stake in shares of Alphabet by 4.4% during the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after purchasing an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC increased its stake in shares of Alphabet by 0.9% during the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after purchasing an additional 220 shares during the last quarter. 34.46% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director L John Doerr sold 11,575 shares of the company’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 transaction of $12,500,884.25. Following the completion of the sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,763,765.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the sale, the chief executive officer now directly owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,010 shares of company stock worth $41,531,496. Company insiders own 13.92% of the company’s stock.

Alphabet Inc (NASDAQ:GOOG) opened at $1,094.80 on Monday. Alphabet Inc has a 52-week low of $803.37 and a 52-week high of $1,186.89. The stock has a market cap of $761,050.00, a P/E ratio of 34.11 and a beta of 1.01. 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 announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same quarter in the previous year, the company earned $9.36 EPS. The business’s revenue for the quarter was up 24.0% on a year-over-year basis.

Alphabet announced that its Board of Directors has authorized a share buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Several research analysts have recently weighed in on the stock. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,054.53 price objective on the stock in a research note on Monday, February 12th. TheStreet lowered shares of Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 5th. Stifel Nicolaus lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective on the stock. in a research note on Friday, February 2nd. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Alphabet in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,064.49.

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Alphabet Company 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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