Timucuan Asset Management Inc. FL lowered its stake in Alphabet Inc (NASDAQ:GOOG) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,995 shares of the information services provider’s stock after selling 717 shares during the quarter. Alphabet makes up approximately 8.3% of Timucuan Asset Management Inc. FL’s investment portfolio, making the stock its 4th largest position. Timucuan Asset Management Inc. FL’s holdings in Alphabet were worth $102,321,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameraudi Asset Management Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $207,000. Bainco International Investors boosted its stake in shares of Alphabet by 0.5% in the fourth quarter. Bainco International Investors now owns 12,372 shares of the information services provider’s stock valued at $17,972,000 after buying an additional 60 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Alphabet by 1,050.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,185 shares of the information services provider’s stock valued at $1,584,000 after buying an additional 1,082 shares during the period. Banque Cantonale Vaudoise bought a new stake in Alphabet during the fourth quarter worth $22,903,000. Finally, Cannell Peter B & Co. Inc. lifted its stake in Alphabet by 1.3% during the fourth quarter. Cannell Peter B & Co. Inc. now owns 63,458 shares of the information services provider’s stock worth $85,272,000 after purchasing an additional 788 shares during the last quarter. 32.99% of the stock is currently owned by hedge funds and other institutional investors.
GOOG stock traded up $0.21 during mid-day trading on Thursday, reaching $1,418.05. The company had a trading volume of 1,289,297 shares, compared to its average volume of 1,656,767. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The company has a market capitalization of $967.85 billion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 2.12 and a beta of 1.06. The firm has a 50 day moving average of $1,315.10 and a 200 day moving average of $1,335.23. Alphabet Inc has a 12 month low of $1,013.54 and a 12 month high of $1,532.11.
A number of brokerages recently weighed in on GOOG. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. Citigroup boosted their price objective on Alphabet from $1,500.00 to $1,700.00 and gave the company a “positive” rating in a research note on Friday, February 7th. Cfra upped their price target on Alphabet from $1,737.00 to $1,761.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Susquehanna Bancshares upped their price target on Alphabet from $1,550.00 to $1,800.00 in a research note on Wednesday, April 29th. Finally, BMO Capital Markets raised Alphabet from a “market perform” rating to an “outperform” rating in a report on Monday, March 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,580.52.
In related news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the sale, the director now owns 592 shares in the company, valued at $807,257.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 45 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $1,151.24, for a total transaction of $51,805.80. Following the sale, the director now owns 32 shares in the company, valued at approximately $36,839.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325 shares of company stock valued at $409,753. Corporate insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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