Discovery Capital Management LLC CT bought a new position in Alphabet Inc (NASDAQ:GOOG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm bought 135,711 shares of the information services provider’s stock, valued at approximately $104,744,000. Alphabet comprises approximately 1.8% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 15th largest position.
A number of other hedge funds have also recently modified their holdings of GOOG. Quest Investment Management Inc. OR increased its stake in Alphabet by 4.9% in the fourth quarter. Quest Investment Management Inc. OR now owns 30,217 shares of the information services provider’s stock worth $23,322,000 after buying an additional 1,423 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in Alphabet during the fourth quarter worth $670,000. Intellectus Partners LLC bought a new stake in Alphabet during the fourth quarter worth $3,279,000. GSA Capital Partners LLP bought a new stake in Alphabet during the fourth quarter worth $1,698,000. Finally, Silvercrest Asset Management Group LLC increased its stake in Alphabet by 0.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 73,493 shares of the information services provider’s stock worth $56,724,000 after buying an additional 239 shares during the last quarter. 34.74% of the stock is owned by institutional investors.
Shares of Alphabet Inc (NASDAQ:GOOG) traded up 0.18% during mid-day trading on Friday, reaching $843.19. The company had a trading volume of 622,748 shares. Alphabet Inc has a 12-month low of $663.28 and a 12-month high of $853.50. The stock has a market capitalization of $583.00 billion, a P/E ratio of 30.25 and a beta of 0.94. The firm’s 50 day moving average is $833.03 and its 200-day moving average is $802.56.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $9.67 by $0.31. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. The firm had revenue of $26.04 billion for the quarter, compared to analyst estimates of $25.18 billion. During the same period last year, the business earned $8.67 EPS. The company’s revenue was up 22.2% compared to the same quarter last year. On average, analysts expect that Alphabet Inc will post $33.26 earnings per share for the current fiscal year.
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A number of brokerages have recently commented on GOOG. Jefferies Group LLC reissued a “buy” rating and set a $1,000.00 price target on shares of Alphabet in a report on Friday, December 23rd. Aegis reissued a “buy” rating and set a $1,011.00 price target on shares of Alphabet in a report on Tuesday, January 31st. Robert W. Baird reissued an “outperform” rating and set a $960.00 price target on shares of Alphabet in a report on Thursday, February 9th. BMO Capital Markets reissued an “outperform” rating and set a $1,005.00 price target on shares of Alphabet in a report on Monday, March 27th. Finally, Cowen and Company reissued an “outperform” rating and set a $1,050.00 price target on shares of Alphabet in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $956.36.
In other Alphabet news, VP James Grier Campbell sold 231 shares of Alphabet stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $830.56, for a total transaction of $191,859.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Lawrence Page sold 33,340 shares of Alphabet stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $812.80, for a total value of $27,098,752.00. Following the transaction, the chief executive officer now directly owns 30,670 shares in the company, valued at $24,928,576. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,688 shares of company stock worth $229,255,327. 13.92% of the stock is currently owned by company insiders.
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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