Schwab Charles Investment Management Inc. boosted its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,034,611 shares of the information services provider’s stock after buying an additional 41,354 shares during the period. Alphabet makes up about 0.9% of Schwab Charles Investment Management Inc.’s investment portfolio, making the stock its 15th largest position. Schwab Charles Investment Management Inc. owned about 0.15% of Alphabet worth $1,082,617,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rothschild Capital Partners LLC bought a new stake in Alphabet in the third quarter valued at $3,161,000. One Capital Management LLC grew its position in Alphabet by 5.0% in the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after acquiring an additional 154 shares during the period. Northeast Investment Management grew its position in Alphabet by 4.4% in the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after acquiring an additional 537 shares during the period. Founders Capital Management LLC grew its position in 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 acquiring an additional 8,987 shares during the period. Finally, Quantitative Systematic Strategies LLC grew its position in 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 acquiring an additional 1,043 shares during the period. 34.86% of the stock is currently owned by institutional investors.
GOOG has been the topic of a number of analyst reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Jefferies Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 price target on the stock. in a research report on Thursday, December 7th. BidaskClub cut Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Finally, TheStreet lowered Alphabet from an “a” rating to a “c+” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,072.37.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The company had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.36 EPS.
Alphabet announced that its board has approved a share 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 typically a sign that the company’s management believes its stock is undervalued.
In related news, Director L John Doerr sold 11,575 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $1,079.99, for a total value of $12,500,884.25. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at $3,763,765.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total value of $6,625,606.70. Following the completion of the sale, the senior vice president now owns 2,897 shares of the company’s stock, valued at approximately $3,373,353.71. The disclosure for this sale can be found here. Insiders sold 48,709 shares of company stock valued at $52,954,941 in the last quarter. 13.92% of the stock is currently owned by corporate insiders.
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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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