Sarasin & Partners LLP Sells 19,132 Shares of Alphabet Inc (GOOG)

Sarasin & Partners LLP cut its holdings in Alphabet Inc (NASDAQ:GOOG) by 13.5% during the third quarter, Holdings Channel reports. The firm owned 122,604 shares of the information services provider’s stock after selling 19,132 shares during the quarter. Alphabet accounts for about 2.4% of Sarasin & Partners LLP’s portfolio, making the stock its 14th biggest position. Sarasin & Partners LLP’s holdings in Alphabet were worth $117,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Burt Wealth Advisors increased its holdings in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC increased its holdings in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after buying an additional 5 shares during the last quarter. Archford Capital Strategies LLC increased its holdings in Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after buying an additional 832 shares during the last quarter. Almanack Investment Partners LLC. increased its holdings in Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after buying an additional 7 shares during the last quarter. Finally, Catamount Wealth Management increased its holdings in Alphabet by 5.8% during the second quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock worth $165,000 after buying an additional 10 shares during the last quarter. Institutional investors own 34.46% of the company’s stock.

Shares of Alphabet Inc (GOOG) opened at $1,069.70 on Thursday. Alphabet Inc has a 52-week low of $803.37 and a 52-week high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market cap of $744,090.00, a PE ratio of 59.56 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share 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 the consensus estimate of $31.88 billion. During the same period in the prior year, the company earned $9.36 EPS. The company’s revenue for the quarter was up 24.0% compared to the same quarter last year.

Alphabet declared that its Board of Directors has approved a stock buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of equities analysts recently weighed in on GOOG shares. Wells Fargo & Co restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Stifel Nicolaus restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Societe Generale restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,061.93.

In related news, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $1,052.50, for a total transaction of $5,988,725.00. Following the completion of the sale, the senior vice president now owns 2,897 shares of the company’s stock, valued at $3,049,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the sale, the chief executive officer now directly owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The disclosure for this sale can be found here. Insiders have sold 27,435 shares of company stock valued at $29,030,612 in the last ninety days. 13.92% of the stock is currently owned by company insiders.

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Alphabet 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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