Pinnacle Associates Ltd. lifted its holdings in Alphabet Inc (NASDAQ:GOOG) by 77.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,579 shares of the information services provider’s stock after purchasing an additional 4,604 shares during the period. Pinnacle Associates Ltd.’s holdings in Alphabet were worth $10,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in GOOG. Capital Investment Advisory Services LLC increased its stake in Alphabet by 0.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after buying an additional 1 shares in the last quarter. Capital Advantage Inc. increased its stake in Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after buying an additional 1 shares in the last quarter. Foster & Motley Inc. increased its stake in Alphabet by 0.8% during the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after buying an additional 2 shares in the last quarter. Financial Consulate Inc. increased its stake in Alphabet by 1.2% during the 2nd quarter. Financial Consulate Inc. now owns 262 shares of the information services provider’s stock worth $238,000 after buying an additional 3 shares in the last quarter. Finally, Fiduciary Financial Services of The Southwest Inc. TX increased its stake in Alphabet by 0.3% during the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 874 shares of the information services provider’s stock worth $794,000 after buying an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 34.46% of the company’s stock.

Alphabet Inc (NASDAQ:GOOG) opened at $1,069.70 on Thursday. Alphabet Inc has a twelve month low of $803.37 and a twelve month high of $1,186.89. The company has a market capitalization of $744,090.00, a P/E ratio of 59.56 and a beta of 1.01. 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 quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $31.88 billion. During the same quarter last year, the company earned $9.36 earnings per share. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis.

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

In other Alphabet news, VP James Grier Campbell sold 238 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction 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 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. Insiders have sold 27,435 shares of company stock worth $29,030,612 over the last 90 days. 13.92% of the stock is owned by insiders.

Several research firms have commented on GOOG. Vetr lowered Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a research note on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. SunTrust Banks boosted their price objective on Alphabet to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Royal Bank of Canada reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 27th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research note 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 assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1,061.93.

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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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