Alphabet Inc (GOOG) Position Lessened by Amica Mutual Insurance Co.

Amica Mutual Insurance Co. reduced its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 20.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 30,073 shares of the information services provider’s stock after selling 7,715 shares during the period. Alphabet comprises 2.6% of Amica Mutual Insurance Co.’s portfolio, making the stock its 3rd biggest position. Amica Mutual Insurance Co.’s holdings in Alphabet were worth $28,843,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Burt Wealth Advisors raised its position in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after purchasing an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC raised its position in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 5 shares in the last quarter. Almanack Investment Partners LLC. raised its position in Alphabet by 4.5% during the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 7 shares in the last quarter. Catamount Wealth Management raised its position in Alphabet by 5.8% during the 2nd quarter. Catamount Wealth Management now owns 182 shares of the information services provider’s stock valued at $165,000 after purchasing an additional 10 shares in the last quarter. Finally, CWH Capital Management Inc. raised its position in Alphabet by 8.5% during the 2nd quarter. CWH Capital Management Inc. now owns 192 shares of the information services provider’s stock valued at $174,000 after purchasing an additional 15 shares in the last quarter. 34.64% of the stock is owned by hedge funds and other institutional investors.

Alphabet Inc (NASDAQ:GOOG) opened at $1,048.58 on Thursday. Alphabet Inc has a one year low of $803.19 and a one year high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market capitalization of $729,840.00, a price-to-earnings ratio of 58.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). Alphabet had a negative return on equity of 7.83% and a negative net margin of 9.34%. The business had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. During the same quarter last year, the firm earned $9.36 earnings per share. The firm’s quarterly revenue was up 24.0% compared to the same quarter last year.

Alphabet announced that its board has authorized a stock buyback plan 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 reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

A number of equities research analysts have weighed in on GOOG shares. Pivotal Research lifted their target price on Alphabet from $940.00 to $970.00 and gave the company a “hold” rating in a research report on Thursday, October 12th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,150.00 target price on shares of Alphabet in a research report on Thursday, October 19th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty-five have given a buy rating to the stock. Alphabet has an average rating of “Buy” and an average target price of $1,061.56.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total transaction of $4,011,440.00. Following the sale, the chief executive officer now owns 1,178 shares in the company, valued at approximately $1,181,369.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $1,015.80, for a total value of $38,600.40. Following the sale, the director now owns 1,813 shares in the company, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,981 shares of company stock worth $35,552,537. 13.92% of the stock is owned by company insiders.

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Alphabet 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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