Tiedemann Wealth Management LLC raised its stake in Alphabet Inc (NASDAQ:GOOG) by 204.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,821 shares of the information services provider’s stock after buying an additional 2,565 shares during the period. Tiedemann Wealth Management LLC’s holdings in Alphabet were worth $2,444,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GOOG. Capital Investment Advisory Services LLC lifted its holdings in shares of Alphabet by 0.4% during the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after purchasing an additional 1 shares during the period. Capital Advantage Inc. lifted its holdings in shares of Alphabet by 0.4% during the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after purchasing an additional 1 shares during the period. Foster & Motley Inc. lifted its holdings in shares of Alphabet by 0.8% during the second quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after purchasing an additional 2 shares during the period. Financial Consulate Inc. lifted its holdings in shares of Alphabet by 1.2% during the second quarter. Financial Consulate Inc. now owns 262 shares of the information services provider’s stock worth $238,000 after purchasing an additional 3 shares during the period. Finally, Fiduciary Financial Services of The Southwest Inc. TX lifted its holdings in shares of Alphabet by 0.3% during the second quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 874 shares of the information services provider’s stock worth $794,000 after purchasing an additional 3 shares during the period. Hedge funds and other institutional investors own 34.46% of the company’s stock.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,051.94 on Tuesday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The company has a market cap of $731,930.00, a PE ratio of 58.57 and a beta of 1.01. Alphabet Inc has a 52-week low of $803.37 and a 52-week high of $1,186.89.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion for 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 company’s revenue was up 24.0% on a year-over-year basis. During the same period in the previous year, the firm earned $9.36 earnings per share.

Alphabet declared that its board has authorized a share buyback plan 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 repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

GOOG has been the topic of a number of recent research reports. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Piper Jaffray Companies reiterated an “overweight” rating and set a $1,150.00 price target on shares of Alphabet in a report on Thursday, October 19th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Finally, SunTrust Banks lifted their price target on shares of Alphabet to $1,250.00 and gave the stock a “buy” rating in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,061.93.

In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $1,020.69, for a total transaction of $4,082,760.00. Following the transaction, the chief executive officer now directly owns 949 shares in the company, valued at $968,634.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $1,052.50, for a total transaction of $5,988,725.00. Following the transaction, the senior vice president now owns 2,897 shares in the company, valued at $3,049,092.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,671 shares of company stock worth $45,613,302. 13.92% of the stock is owned by corporate insiders.

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Alphabet Company 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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