Brown Advisory Inc. decreased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 17.9% in the 3rd quarter, Holdings Channel reports. The firm owned 683,037 shares of the information services provider’s stock after selling 149,302 shares during the quarter. Alphabet accounts for about 2.2% of Brown Advisory Inc.’s portfolio, making the stock its 3rd largest holding. Brown Advisory Inc.’s holdings in Alphabet were worth $655,108,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Burt Wealth Advisors grew its position in shares of Alphabet by 17.2% during the 2nd 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 period. Signature Estate & Investment Advisors LLC grew its position in shares of Alphabet by 3.8% during the 2nd 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 period. Archford Capital Strategies LLC grew its position in shares of Alphabet by 400.0% during the 2nd 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 period. Almanack Investment Partners LLC. grew its position in shares of Alphabet by 4.5% during the 2nd 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 period. Finally, Catamount Wealth Management grew its position in shares of Alphabet by 5.8% during the 2nd 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 period. Hedge funds and other institutional investors own 34.46% of the company’s stock.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,052.10 on Wednesday. Alphabet Inc has a 52 week low of $803.37 and a 52 week high of $1,186.89. The stock has a market capitalization of $732,040.00, a PE ratio of 58.58 and a beta of 1.01. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. During the same quarter in the prior year, the firm posted $9.36 earnings per share. The company’s revenue was up 24.0% on a year-over-year basis.

Alphabet declared that its board has authorized a share buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

GOOG has been the subject of several recent analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Societe Generale reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $1,061.93.

In other Alphabet news, VP James Grier Campbell sold 238 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $1,162.61, for a total transaction of $276,701.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of Alphabet stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $1,052.50, for a total value of $5,988,725.00. Following the transaction, the senior vice president now directly owns 2,897 shares of the company’s stock, valued at approximately $3,049,092.50. The disclosure for this sale can be found here. Insiders have sold a total of 27,435 shares of company stock valued at $29,030,612 in the last ninety days. Insiders own 13.92% of the company’s stock.

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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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