Alphabet Inc (GOOG) Shares Sold by MUFG Americas Holdings Corp

MUFG Americas Holdings Corp cut its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 18.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,784 shares of the information services provider’s stock after selling 2,884 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Alphabet were worth $12,262,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after acquiring an additional 589,654 shares during the last quarter. BlackRock Inc. increased its holdings in Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after acquiring an additional 826,480 shares during the last quarter. FMR LLC increased its holdings in Alphabet by 0.4% in the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after acquiring an additional 62,507 shares during the last quarter. Capital World Investors increased its holdings in Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after acquiring an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Alphabet by 3.2% in the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after acquiring an additional 155,151 shares during the last quarter. 34.46% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,069.70 on Thursday. The firm has a market capitalization of $744,090.00, a P/E ratio of 59.56 and a beta of 1.01. Alphabet Inc has a 12-month low of $803.37 and a 12-month high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share 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 the consensus estimate of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.36 EPS.

Alphabet declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

GOOG has been the subject of several analyst reports. UBS Group restated a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research note on Wednesday, October 25th. Morningstar restated a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Finally, Piper Jaffray Companies raised their target price on Alphabet from $1,150.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-six have assigned a buy rating to the company’s stock. Alphabet presently has an average 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 business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $1,052.50, for a total value of $5,988,725.00. Following the completion of the sale, the senior vice president now owns 2,897 shares in the company, valued at approximately $3,049,092.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Grier Campbell sold 184 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $1,012.66, for a total value of $186,329.44. The disclosure for this sale can be found here. Insiders sold a total of 27,435 shares of company stock valued at $29,030,612 in the last 90 days. 13.92% of the stock is currently owned by corporate insiders.

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About Alphabet

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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