Alphabet Inc (GOOG) Shares Bought by Carroll Financial Associates Inc.
Carroll Financial Associates Inc. raised its holdings in Alphabet Inc (NASDAQ:GOOG) by 18.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,000 shares of the information services provider’s stock after acquiring an additional 155 shares during the quarter. Carroll Financial Associates Inc.’s holdings in Alphabet were worth $1,046,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Alphabet by 3.0% in 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. raised its stake in shares of Alphabet by 4.8% in 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 raised its stake in shares of Alphabet by 0.4% in 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 raised its stake in shares of Alphabet by 13.9% in 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 raised its stake in shares of Alphabet by 3.2% in 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. Institutional investors own 34.86% of the company’s stock.
Several 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 for the company. in a research note on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. SunTrust Banks lifted their price target on Alphabet to $1,250.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, UBS Group reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,072.37.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $9.36 earnings per share.
Alphabet declared that its board has authorized a share buyback program 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $1,072.64, for a total transaction of $4,290,560.00. Following the transaction, the chief executive officer now owns 803 shares of the company’s stock, valued at $861,329.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total value of $39,836.92. The disclosure for this sale can be found here. Insiders sold 48,709 shares of company stock worth $52,954,941 over the last ninety days. Corporate insiders own 13.92% of the company’s stock.
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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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