Mitchell Capital Management Co. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,642 shares of the information services provider’s stock after selling 456 shares during the quarter. Alphabet comprises about 5.0% of Mitchell Capital Management Co.’s investment portfolio, making the stock its biggest position. Mitchell Capital Management Co.’s holdings in Alphabet were worth $14,275,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the company. Stuart Chaussee & Associates Inc. raised its position in shares of Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock worth $105,000 after buying an additional 52 shares during the period. Price Wealth Management Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $125,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth $132,000. WealthTrust Arizona LLC raised its position in shares of Alphabet by 134.9% in the 4th quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after buying an additional 85 shares during the period. Finally, Front Row Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth $155,000. Institutional investors and hedge funds own 34.78% of the company’s stock.
Shares of Alphabet opened at $1,078.59 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The stock has a market cap of $751.77 billion, a PE ratio of 33.65 and a beta of 1.09. Alphabet Inc. has a 1-year low of $1,076.38 and a 1-year high of $1,088.16.
Alphabet announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts recently weighed in on the company. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Atlantic Securities reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. JPMorgan Chase reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, April 10th. Finally, Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,197.56 target price on the stock in a research report on Monday, March 26th. Five investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $1,130.86.
In other news, Director Ann Mather sold 37 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total transaction of $40,991.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $1,106.68, for a total value of $4,426,720.00. Following the sale, the chief executive officer now owns 642 shares of the company’s stock, valued at $710,488.56. The disclosure for this sale can be found here. Insiders have sold 57,211 shares of company stock valued at $61,748,995 over the last 90 days. Insiders own 13.92% of the company’s stock.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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