Vontobel Asset Management Inc. cut its stake in Alphabet Inc (NASDAQ:GOOG) by 15.2% in the fourth quarter, Holdings Channel reports. The fund owned 457,696 shares of the information services provider’s stock after selling 81,973 shares during the period. Alphabet makes up 3.5% of Vontobel Asset Management Inc.’s investment portfolio, making the stock its 8th largest position. Vontobel Asset Management Inc.’s holdings in Alphabet were worth $490,785,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after purchasing an additional 2,831,099 shares during the period. Koch Industries Inc. grew its position in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after purchasing an additional 1,161,184 shares during the period. BlackRock Inc. grew its position 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 valued at $16,409,850,000 after purchasing an additional 826,480 shares during the period. Capital World Investors boosted its position in Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after acquiring an additional 776,853 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Alphabet by 3.0% during 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 acquiring an additional 589,654 shares during the last quarter. 34.86% of the stock is owned by institutional investors.
Alphabet Inc (NASDAQ GOOG) opened at $1,163.00 on Monday. 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 firm has a market capitalization of $806,890.00, a price-to-earnings ratio of 36.16 and a beta of 1.05. Alphabet Inc has a 12-month low of $803.37 and a 12-month high of $1,186.89.
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 reacquire 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.
In other Alphabet news, VP James Grier Campbell sold 183 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total transaction of $191,846.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $1,072.64, for a total value of $4,290,560.00. Following the transaction, the chief executive officer now owns 803 shares in the company, valued at approximately $861,329.92. The disclosure for this sale can be found here. Insiders have sold a total of 43,019 shares of company stock worth $46,329,334 in the last quarter. Company insiders own 13.92% of the company’s stock.
A number of equities analysts have weighed in on GOOG shares. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Jefferies Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Vetr downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,065.12 price target for the company. in a research report on Thursday, December 7th. BidaskClub downgraded Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday, February 5th. Finally, TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and an average target price of $1,072.37.
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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