Webster Bank N. A. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,590 shares of the information services provider’s stock after selling 56 shares during the period. Webster Bank N. A.’s holdings in Alphabet were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Rothschild Capital Partners LLC acquired a new stake in shares of Alphabet during the third quarter valued at about $3,161,000. Founders Capital Management LLC grew its holdings 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 valued at $9,081,000 after purchasing an additional 8,987 shares in the last quarter. Quantitative Systematic Strategies LLC grew its holdings in shares of Alphabet by 285.8% in 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 in the last quarter. Argent Trust Co grew its holdings in Alphabet by 3.7% during the 3rd quarter. Argent Trust Co now owns 2,110 shares of the information services provider’s stock worth $2,024,000 after acquiring an additional 75 shares in the last quarter. Finally, Commonwealth Equity Services Inc grew its holdings in Alphabet by 4.4% during the 3rd quarter. Commonwealth Equity Services Inc now owns 47,546 shares of the information services provider’s stock worth $45,602,000 after acquiring an additional 1,999 shares in the last quarter. 34.86% of the stock is currently owned by hedge funds and other institutional investors.
GOOG has been the subject of several analyst reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Jefferies Group restated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. BidaskClub downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. TheStreet downgraded shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,172.75 price target for the company in a research report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,089.34.
In related news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $993.80, for a total transaction of $3,975,200.00. Following the sale, the chief executive officer now directly owns 940 shares in the company, valued at $934,172. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP James Grier Campbell sold 193 shares of Alphabet stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $1,023.10, for a total transaction of $197,458.30. The disclosure for this sale can be found here. Insiders sold 48,720 shares of company stock worth $52,755,337 over the last quarter. 13.92% of the stock is currently owned by company insiders.
Shares of GOOG stock traded up $12.54 during mid-day trading on Thursday, reaching $1,032.51. 1,359,356 shares of the company were exchanged, compared to its average volume of 1,910,301. Alphabet Inc. has a fifty-two week low of $821.44 and a fifty-two week 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. The company has a market capitalization of $716,765.94, a P/E ratio of 32.22 and a beta of 1.08.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (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 return on equity of 14.94% and a net margin of 11.42%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter last year, the business earned $9.36 earnings per share.
Alphabet declared that its board has initiated a share 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 repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Alphabet Company Profile
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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