ProVise Management Group LLC Sells 210 Shares of Alphabet Inc. (GOOG)

ProVise Management Group LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,070 shares of the information services provider’s stock after selling 210 shares during the quarter. ProVise Management Group LLC’s holdings in Alphabet were worth $2,166,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC boosted its position in shares of Alphabet by 759.0% during the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after purchasing an additional 2,831,099 shares in the last quarter. Koch Industries Inc. boosted its position in shares of Alphabet by 214,636.6% during the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after purchasing an additional 1,161,184 shares in the last quarter. BlackRock Inc. boosted its position in shares of Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares in the last quarter. Capital World Investors boosted its position in shares of Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after purchasing an additional 776,853 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Alphabet by 3.0% during the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares in the last quarter. 34.81% of the stock is currently owned by hedge funds and other institutional investors.

GOOG has been the topic of a number of recent analyst reports. Vetr cut shares of Alphabet from a “hold” rating to a “sell” rating and set a $1,011.69 price target on the stock. in a research report on Thursday, December 28th. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. UBS reissued a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. Piper Jaffray lifted their price target on shares of Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirty-four have assigned a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,106.43.



In other news, VP James Grier Campbell sold 238 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total transaction of $276,701.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 37 shares of the business’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total transaction of $40,991.19. The disclosure for this sale can be found here. Insiders have sold a total of 54,410 shares of company stock worth $58,408,136 over the last 90 days. 13.92% of the stock is owned by company insiders.

Shares of GOOG stock opened at $1,021.18 on Thursday. 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 Inc. has a 1 year low of $867.75 and a 1 year high of $1,186.89. The firm has a market capitalization of $741,646.13, a price-to-earnings ratio of 31.86 and a beta of 1.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.28 by $0.65. Alphabet had a net margin of 14.19% and a return on equity of 15.79%. The firm had revenue of $31.15 billion for the quarter, compared to analyst estimates of $30.28 billion. During the same period in the previous year, the business earned $7.73 EPS. The company’s revenue was up 25.8% compared to the same quarter last year.

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

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About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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