Quantum Capital Management LLC NJ lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,637 shares of the information services provider’s stock after selling 96 shares during the period. Alphabet accounts for about 1.8% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 20th largest position. Quantum Capital Management LLC NJ’s holdings in Alphabet were worth $5,899,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in GOOG. Stuart Chaussee & Associates Inc. grew its stake in shares of Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after acquiring an additional 52 shares in the last quarter. Price Wealth Management Inc. purchased a new position in shares of Alphabet in the 4th quarter worth about $125,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $132,000. WealthTrust Arizona LLC boosted its holdings in shares of Alphabet by 134.9% in the 4th quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after buying an additional 85 shares during the last quarter. Finally, Front Row Advisors LLC purchased a new stake in Alphabet during the fourth quarter valued at about $155,000. Institutional investors own 34.78% of the company’s stock.
GOOG has been the topic of several recent research reports. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. Goldman Sachs reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 25th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Finally, Vetr upgraded shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price objective on the stock in a research report on Tuesday, January 30th. Five equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $1,130.86.
Alphabet opened at $1,078.59 on Friday, MarketBeat.com reports. Alphabet Inc. has a twelve month low of $1,076.38 and a twelve month high of $1,088.16. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.85 and a current ratio of 4.87. The stock has a market cap of $751.77 billion, a PE ratio of 33.65 and a beta of 1.09.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, topping the Zacks’ consensus estimate of $9.28 by $0.65. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The company had revenue of $31.15 billion for the quarter, compared to analysts’ expectations of $30.28 billion. During the same period in the previous year, the firm earned $7.73 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year.
Alphabet declared that its board has authorized a stock buyback 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 an indication that the company’s board believes its stock is undervalued.
In other news, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $1,164.43, for a total transaction of $6,625,606.70. Following the transaction, the senior vice president now owns 2,897 shares of the company’s stock, valued at approximately $3,373,353.71. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $1,077.94, for a total value of $4,311,760.00. Following the transaction, the chief executive officer now directly owns 601 shares in the company, valued at approximately $647,841.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 57,211 shares of company stock worth $61,748,995. 13.92% of the stock is owned by insiders.
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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