Mackay Shields LLC Cuts Stock Holdings in Alphabet Inc (NASDAQ:GOOG)
Mackay Shields LLC reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,057 shares of the information services provider’s stock after selling 6,841 shares during the quarter. Alphabet accounts for 0.9% of Mackay Shields LLC’s portfolio, making the stock its 10th largest position. Mackay Shields LLC’s holdings in Alphabet were worth $129,767,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after buying an additional 612,804 shares during the last quarter. Generation Investment Management LLP increased its stake in Alphabet by 24.5% in the 3rd quarter. Generation Investment Management LLP now owns 1,142,934 shares of the information services provider’s stock valued at $1,393,237,000 after buying an additional 224,907 shares during the last quarter. Baillie Gifford & Co. increased its stake in Alphabet by 9.2% in the 4th quarter. Baillie Gifford & Co. now owns 2,515,209 shares of the information services provider’s stock valued at $3,362,886,000 after buying an additional 211,618 shares during the last quarter. Johanson Financial Advisors Inc. acquired a new stake in Alphabet in the 4th quarter valued at $105,000. Finally, Sanders Capital LLC increased its stake in Alphabet by 10.5% in the 4th quarter. Sanders Capital LLC now owns 1,384,395 shares of the information services provider’s stock valued at $2,039,993,000 after buying an additional 131,482 shares during the last quarter. 31.78% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on GOOG shares. Citigroup lifted their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the company a “positive” rating in a research note on Friday, February 7th. DZ Bank restated a “buy” rating on shares of Alphabet in a research note on Tuesday, February 4th. Cleveland Research restated a “neutral” rating on shares of Alphabet in a research note on Friday, December 20th. Piper Jaffray Companies initiated coverage on shares of Alphabet in a research note on Tuesday, December 3rd. They set an “overweight” rating and a $1,500.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $1,591.10.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, February 3rd. The information services provider reported $15.35 EPS for the quarter, topping the consensus estimate of $12.76 by $2.59. The business had revenue of $46.08 billion during the quarter, compared to the consensus estimate of $46.87 billion. Alphabet had a net margin of 21.22% and a return on equity of 18.66%. Alphabet’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.95 EPS. Analysts expect that Alphabet Inc will post 54.67 EPS for the current year.
In related news, Director Ann Mather sold 31 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $1,300.50, for a total transaction of $40,315.50. Following the completion of the sale, the director now owns 1,773 shares of the company’s stock, valued at approximately $2,305,786.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David C. Drummond sold 56,860 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $1,289.62, for a total transaction of $73,327,793.20. Following the sale, the senior vice president now directly owns 45,806 shares of the company’s stock, valued at approximately $59,072,333.72. The disclosure for this sale can be found here. Insiders have sold a total of 5,478,827 shares of company stock valued at $420,190,984 in the last ninety days. 12.99% of the stock is currently owned by insiders.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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