Alphabet Inc (GOOG) Shares Bought by Investec Asset Management LTD
Investec Asset Management LTD boosted its position in Alphabet Inc (NASDAQ:GOOG) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,380 shares of the information services provider’s stock after acquiring an additional 65 shares during the quarter. Investec Asset Management LTD’s holdings in Alphabet were worth $14,751,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perennial Advisors LLC increased its stake in Alphabet by 8.7% in the second quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after acquiring an additional 260 shares during the last quarter. Rothschild Capital Partners LLC bought a new position in Alphabet in the third quarter valued at $3,161,000. One Capital Management LLC increased its stake in Alphabet by 5.0% in the second quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after acquiring an additional 154 shares during the last quarter. Northeast Investment Management grew its stake in shares of Alphabet by 4.4% during the second quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after buying an additional 537 shares during the last quarter. Finally, Taurus Asset Management LLC grew its stake in shares of Alphabet by 0.9% during the second quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock valued at $23,591,000 after buying an additional 220 shares during the last quarter. 34.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc (GOOG) opened at $1,037.78 on Monday. The firm has a market cap of $721,031.94, a P/E ratio of 32.42 and a beta of 1.01. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1 year low of $803.37 and a 1 year high of $1,186.89.
Alphabet announced that its board has approved a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, Director Ann Mather sold 38 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the completion of the sale, the director now owns 1,813 shares of the company’s stock, valued at $1,841,645.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP James Grier Campbell sold 183 shares of the firm’s 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 have sold 37,981 shares of company stock valued at $39,624,577 in the last three months. 13.92% of the stock is owned by insiders.
A number of research analysts have recently issued reports on the company. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective on the stock. in a research note on Wednesday, January 10th. Morningstar reaffirmed 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 company a “buy” rating in a research note on Friday, January 12th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. Alphabet has an average rating of “Buy” and an average price target of $1,061.93.
Alphabet Company 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.
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