Marathon Asset Management LLP grew its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 94,864 shares of the information services provider’s stock after purchasing an additional 1,508 shares during the period. Alphabet comprises approximately 1.5% of Marathon Asset Management LLP’s portfolio, making the stock its 24th biggest position. Marathon Asset Management LLP’s holdings in Alphabet were worth $99,266,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Alphabet by 3.0% in 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 last quarter. BlackRock Inc. boosted its stake 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 buying an additional 826,480 shares during the last quarter. FMR LLC boosted its stake in shares of Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after buying an additional 62,507 shares during the last quarter. Capital World Investors lifted its stake in Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in Alphabet by 3.2% in the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock valued at $4,528,593,000 after purchasing an additional 155,151 shares during the last quarter. 34.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,138.17 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet Inc has a 1 year low of $803.37 and a 1 year high of $1,186.89. The stock has a market cap of $809,074.81, a PE ratio of 36.38 and a beta of 1.04.
Alphabet announced that its Board of Directors has approved a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director Ann Mather sold 38 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total transaction of $39,836.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $1,072.64, for a total transaction of $4,290,560.00. Following the sale, the chief executive officer now owns 803 shares of the company’s stock, valued at $861,329.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,709 shares of company stock valued at $52,954,941. Company insiders own 13.92% of the company’s stock.
GOOG has been the topic of several research analyst reports. SunTrust Banks upped their price objective on Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday, January 12th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. Finally, Vetr downgraded Alphabet from a “hold” rating to a “sell” rating and set a $1,011.69 price objective on the stock. in a research note on Thursday, December 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,072.37.
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Alphabet Company Profile
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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