Sand Hill Global Advisors LLC Has $1.12 Million Stake in Alphabet Inc (GOOG)

Sand Hill Global Advisors LLC reduced its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 19.4% in the third quarter, Holdings Channel reports. The institutional investor owned 1,164 shares of the information services provider’s stock after selling 280 shares during the period. Sand Hill Global Advisors LLC’s holdings in Alphabet were worth $1,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Vanguard Group Inc. boosted its holdings in Alphabet by 3.0% during the second 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 last quarter. BlackRock Inc. boosted its holdings in Alphabet by 4.8% during the second 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 last quarter. FMR LLC boosted its holdings in Alphabet by 0.4% during the second 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 last quarter. Capital World Investors boosted its holdings in Alphabet by 13.9% during the second 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 last quarter. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 3.2% during the second 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 last quarter. Hedge funds and other institutional investors own 34.34% of the company’s stock.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,106.63 on Friday. Alphabet Inc has a 12-month low of $803.37 and a 12-month high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The stock has a market cap of $769,860.00, a P/E ratio of 34.47 and a beta of 1.01.

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

Alphabet announced that its board has authorized a share buyback 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. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Several research firms recently weighed in on GOOG. Deutsche Bank restated a “buy” rating on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, Atlantic Securities restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $1,064.49.

In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $1,106.68, for a total transaction of $4,426,720.00. Following the sale, the chief executive officer now owns 642 shares of the company’s stock, valued at approximately $710,488.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP James Grier Campbell sold 184 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $1,012.66, for a total transaction of $186,329.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,010 shares of company stock worth $45,958,216 in the last ninety days. 13.92% of the stock is currently owned by insiders.

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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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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