Reynders McVeigh Capital Management LLC raised its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 2.3% during the third quarter, HoldingsChannel reports. The firm owned 10,746 shares of the information services provider’s stock after buying an additional 239 shares during the period. Alphabet accounts for 1.3% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 22nd biggest position. Reynders McVeigh Capital Management LLC’s holdings in Alphabet were worth $10,307,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Perennial Advisors LLC increased its position in shares of Alphabet by 8.7% in the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock valued at $2,937,000 after acquiring an additional 260 shares during the period. Rothschild Capital Partners LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $3,161,000. One Capital Management LLC increased its position in shares of Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock valued at $2,920,000 after acquiring an additional 154 shares during the period. Northeast Investment Management increased its position in shares of Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock valued at $11,521,000 after acquiring an additional 537 shares during the period. Finally, Taurus Asset Management LLC increased its position in shares of Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock valued at $23,591,000 after acquiring an additional 220 shares during the period. 34.64% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the company. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Jefferies Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, Stifel Nicolaus reissued a “neutral” rating on shares of Alphabet in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirty-six have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,061.93.

In related news, Director Ann Mather sold 38 shares of the firm’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 transaction, the director now directly owns 1,813 shares of the company’s stock, valued at approximately $1,841,645.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $1,018.01, for a total transaction of $4,072,040.00. Following the completion of the transaction, the chief executive officer now directly owns 967 shares in the company, valued at $984,415.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,981 shares of company stock worth $39,624,577. Corporate insiders own 13.92% of the company’s stock.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,037.78 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet Inc has a 12 month low of $803.37 and a 12 month high of $1,186.89. The stock has a market cap of $721,050.63, a PE ratio of 32.42 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $31.88 billion. During the same period in the previous year, the company earned $9.36 earnings per share. The company’s revenue was up 24.0% compared to the same quarter last year.

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

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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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