TB Alternative Assets Ltd. acquired a new position in Alphabet Inc (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 700 shares of the information services provider’s stock, valued at approximately $732,000. Alphabet comprises 0.3% of TB Alternative Assets Ltd.’s portfolio, making the stock its 16th biggest holding.
Several other hedge funds also recently modified their holdings of GOOG. Janus Henderson Group PLC lifted its holdings in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after acquiring an additional 2,831,099 shares during the last quarter. Koch Industries Inc. lifted its holdings in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after acquiring an additional 1,161,184 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after acquiring an additional 826,480 shares during the last quarter. Capital World Investors increased its stake in Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares during the period. Finally, Vanguard Group Inc. increased its stake in Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after buying an additional 589,654 shares during the period. Hedge funds and other institutional investors own 34.84% of the company’s stock.
In other news, Director Ann Mather sold 38 shares of the company’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $1,018.01, for a total transaction of $4,072,040.00. Following the completion of the transaction, the chief executive officer now owns 967 shares of the company’s stock, valued at approximately $984,415.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,709 shares of company stock valued at $53,035,301. Company insiders own 13.92% of the company’s stock.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same quarter in the previous year, the company posted $9.36 EPS. The company’s quarterly revenue was up 24.0% on a year-over-year basis.
Alphabet declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
GOOG has been the topic of several recent research reports. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 target price on the stock in a research note on Monday, March 19th. SunTrust Banks upped their target price on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Finally, Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,075.75.
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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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