Fisher Asset Management LLC reduced its position in Alphabet Inc (NASDAQ:GOOG) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,375 shares of the information services provider’s stock after selling 7,711 shares during the period. Fisher Asset Management LLC’s holdings in Alphabet were worth $247,344,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Rothschild Capital Partners LLC purchased a new stake in shares of Alphabet in the third quarter worth about $3,161,000. Founders Capital Management LLC lifted its position in shares of Alphabet by 1,868.4% in the third quarter. Founders Capital Management LLC now owns 9,468 shares of the information services provider’s stock worth $9,081,000 after buying an additional 8,987 shares in the last quarter. Quantitative Systematic Strategies LLC raised its position in Alphabet by 285.8% during the third quarter. Quantitative Systematic Strategies LLC now owns 1,408 shares of the information services provider’s stock valued at $1,350,000 after purchasing an additional 1,043 shares during the period. Argent Trust Co raised its position in Alphabet by 3.7% during the third quarter. Argent Trust Co now owns 2,110 shares of the information services provider’s stock valued at $2,024,000 after purchasing an additional 75 shares during the period. Finally, Commonwealth Equity Services Inc raised its position in Alphabet by 4.4% during the third quarter. Commonwealth Equity Services Inc now owns 47,546 shares of the information services provider’s stock valued at $45,602,000 after purchasing an additional 1,999 shares during the period. Institutional investors own 34.84% of the company’s stock.
Alphabet Inc (NASDAQ GOOG) opened at $1,049.08 on Friday. Alphabet Inc has a 52 week low of $803.37 and a 52 week high of $1,186.89. The stock has a market capitalization of $757,924.88, a P/E ratio of 34.08 and a beta of 1.04. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
A number of equities research analysts have issued reports on the company. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus restated a “neutral” rating on shares of Alphabet in a research report on Friday, February 2nd. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price objective on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,073.56.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $1,065.21, for a total value of $4,260,840.00. Following the transaction, the chief executive officer now owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 38 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total value of $39,836.92. The disclosure for this sale can be found here. In the last three months, insiders sold 48,709 shares of company stock worth $53,035,301. 13.92% of the stock is owned by insiders.
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.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.