Alphabet Inc (GOOG) Position Boosted by Heritage Wealth Advisors

Heritage Wealth Advisors lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,346 shares of the information services provider’s stock after acquiring an additional 132 shares during the quarter. Heritage Wealth Advisors’ holdings in Alphabet were worth $1,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in GOOG. Beach Investment Management LLC. bought a new position in shares of Alphabet during the second quarter valued at approximately $268,000. Modera Wealth Management LLC raised its holdings in shares of Alphabet by 4.3% during the second quarter. Modera Wealth Management LLC now owns 600 shares of the information services provider’s stock valued at $545,000 after acquiring an additional 25 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of Alphabet by 0.9% during the second quarter. State of Tennessee Treasury Department now owns 225,063 shares of the information services provider’s stock valued at $204,522,000 after acquiring an additional 1,920 shares in the last quarter. Pictet & Cie Europe SA raised its holdings in shares of Alphabet by 6.1% during the second quarter. Pictet & Cie Europe SA now owns 20,004 shares of the information services provider’s stock valued at $18,178,000 after acquiring an additional 1,155 shares in the last quarter. Finally, Community Bank & Trust Waco Texas raised its holdings in shares of Alphabet by 20.0% during the second quarter. Community Bank & Trust Waco Texas now owns 1,015 shares of the information services provider’s stock valued at $922,000 after acquiring an additional 169 shares in the last quarter. Institutional investors own 34.85% of the company’s stock.

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Shares of NASDAQ:GOOG opened at $1,007.04 on Monday. Alphabet Inc has a 1-year low of $817.02 and a 1-year high of $1,186.89. 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 firm has a market cap of $699,674.25, a PE ratio of 31.42 and a beta of 1.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. During the same quarter in the previous year, the business earned $9.36 earnings per share. Alphabet’s revenue was up 24.0% compared to the same quarter last year.

Alphabet announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, Director Ann Mather sold 37 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total transaction of $40,991.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the sale, the chief executive officer now directly owns 656 shares in the company, valued at $739,423.52. The disclosure for this sale can be found here. Insiders have sold 48,720 shares of company stock valued at $52,755,337 over the last 90 days. Corporate insiders own 13.92% of the company’s stock.

A number of equities analysts recently commented on GOOG shares. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. Goldman Sachs reiterated a “buy” rating on shares of Alphabet in a report on Thursday, January 25th. UBS reiterated a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. SunTrust Banks increased their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. Finally, BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,089.34.

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About Alphabet

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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