Pillar Pacific Capital Management LLC Has $3.46 Million Holdings in Alphabet Inc (GOOG)

Pillar Pacific Capital Management LLC cut its holdings in Alphabet Inc (NASDAQ:GOOG) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,311 shares of the information services provider’s stock after selling 230 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Alphabet were worth $3,464,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. 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 purchasing an additional 589,654 shares during the period. BlackRock Inc. boosted its position in Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after purchasing an additional 826,480 shares during the period. FMR LLC boosted its position in Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after purchasing an additional 62,507 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 purchasing an additional 776,853 shares during the period. Finally, Capital Research Global Investors boosted its position in Alphabet by 3.2% during the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares during the period. Institutional investors own 34.85% of the company’s stock.

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Alphabet Inc (GOOG) opened at $1,021.57 on Monday. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market cap of $709,769.50, a P/E ratio of 31.91 and a beta of 1.04. Alphabet Inc has a 1-year low of $803.37 and a 1-year high of $1,186.89.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 was up 24.0% on a year-over-year basis. During the same quarter last year, the business earned $9.36 earnings per share.

Alphabet declared that its board has initiated a stock 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 10th. TheStreet cut shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,197.56 price objective for the company in a research report on Monday. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Finally, Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective for the company. in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average price target of $1,075.75.

In other news, Director Ann Mather sold 38 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total value of $39,836.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total transaction of $191,846.22. The disclosure for this sale can be found here. Insiders sold 48,709 shares of company stock valued at $53,035,301 over the last quarter. Insiders own 13.92% of the company’s stock.

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Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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