Schroder Investment Management Group Has $175.75 Million Position in Alphabet Inc (GOOG)
Schroder Investment Management Group reduced its holdings in Alphabet Inc (NASDAQ:GOOG) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,098 shares of the information services provider’s stock after selling 5,721 shares during the quarter. Schroder Investment Management Group’s holdings in Alphabet were worth $175,751,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Alphabet by 10.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 24,549 shares of the information services provider’s stock valued at $23,545,000 after purchasing an additional 2,380 shares in the last quarter. Achmea Investment Management B.V. boosted its stake in Alphabet by 1.2% during the 3rd quarter. Achmea Investment Management B.V. now owns 16,296 shares of the information services provider’s stock valued at $15,627,000 after purchasing an additional 190 shares in the last quarter. Pegasus Partners Ltd. boosted its stake in Alphabet by 1.6% during the 3rd quarter. Pegasus Partners Ltd. now owns 3,948 shares of the information services provider’s stock valued at $3,787,000 after purchasing an additional 64 shares in the last quarter. Legal & General Group Plc boosted its stake in Alphabet by 3.8% during the 3rd quarter. Legal & General Group Plc now owns 1,493,816 shares of the information services provider’s stock valued at $1,432,722,000 after purchasing an additional 55,109 shares in the last quarter. Finally, Wade G W & Inc. boosted its stake in Alphabet by 3.1% during the 3rd quarter. Wade G W & Inc. now owns 2,166 shares of the information services provider’s stock valued at $2,078,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 34.64% of the company’s stock.
In related news, VP James Grier Campbell sold 184 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 38 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total value of $38,600.40. Following the transaction, the director now owns 1,813 shares in the company, valued at $1,841,645.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,981 shares of company stock valued at $39,624,577. 13.92% of the stock is owned by corporate insiders.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter in the prior year, the business posted $9.36 earnings per share. Alphabet’s revenue was up 24.0% on a year-over-year basis.
Alphabet declared that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently weighed in on the company. Vetr lowered Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a research note on Wednesday, January 10th. Morningstar reissued a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. SunTrust Banks raised their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $1,061.93.
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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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