Amundi Pioneer Asset Management Inc. Increases Position in Alphabet Inc (GOOG)

Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 4.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 794,443 shares of the information services provider’s stock after acquiring an additional 37,362 shares during the quarter. Alphabet accounts for about 2.4% of Amundi Pioneer Asset Management Inc.’s investment portfolio, making the stock its 4th largest holding. Amundi Pioneer Asset Management Inc.’s holdings in Alphabet were worth $761,959,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Burt Wealth Advisors lifted its stake in Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after purchasing an additional 20 shares in the last quarter. Signature Estate & Investment Advisors LLC lifted its stake in Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares in the last quarter. Almanack Investment Partners LLC. lifted its stake in Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after purchasing an additional 7 shares in the last quarter. Finally, Catamount Wealth Management raised 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 valued at $165,000 after buying an additional 10 shares in the last quarter. Institutional investors own 34.64% of the company’s stock.

In other Alphabet news, Director John L. Hennessy sold 1,026 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $1,092.43, for a total value of $1,120,833.18. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $58,991.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 38 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the completion of the sale, the director now directly owns 1,813 shares in the company, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. In the last three months, insiders sold 33,981 shares of company stock worth $35,552,537. Insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,001.52 on Friday. The stock has a market cap of $698,110.00, a price-to-earnings ratio of 55.76 and a beta of 1.01. Alphabet Inc has a twelve month low of $803.37 and a twelve month high of $1,186.89. 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 announced its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The firm had revenue of $32.32 billion during 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%. Alphabet’s revenue was up 24.0% on a year-over-year basis. During the same period last year, the business earned $9.36 EPS.

Alphabet announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Several research firms have recently weighed in on GOOG. TheStreet cut shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective on the stock. in a research report on Friday, February 2nd. Vetr upgraded shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price objective on the stock in a research report on Monday. Finally, Piper Jaffray Companies restated an “overweight” rating on shares of Alphabet in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty-five have assigned a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,061.56.

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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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