Alphabet Inc. (GOOG) Position Lowered by Mckinley Capital Management LLC Delaware

Mckinley Capital Management LLC Delaware lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% in the 4th quarter, HoldingsChannel reports. The fund owned 43,917 shares of the information services provider’s stock after selling 1,519 shares during the period. Alphabet makes up about 2.3% of Mckinley Capital Management LLC Delaware’s portfolio, making the stock its 4th largest holding. Mckinley Capital Management LLC Delaware’s holdings in Alphabet were worth $45,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Egerton Capital UK LLP acquired a new position in Alphabet during the 4th quarter valued at approximately $462,663,000. Great Lakes Advisors LLC increased its stake in Alphabet by 0.8% during the 4th quarter. Great Lakes Advisors LLC now owns 74,097 shares of the information services provider’s stock valued at $77,536,000 after purchasing an additional 572 shares in the last quarter. New Mexico Educational Retirement Board increased its stake in Alphabet by 4.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 29,064 shares of the information services provider’s stock valued at $30,413,000 after purchasing an additional 1,300 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in Alphabet by 21.6% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 77,473 shares of the information services provider’s stock valued at $81,067,000 after purchasing an additional 13,767 shares in the last quarter. Finally, Carnick & Kubik Group LLC increased its stake in Alphabet by 499.7% during the 4th quarter. Carnick & Kubik Group LLC now owns 6,933 shares of the information services provider’s stock valued at $7,255,000 after purchasing an additional 5,777 shares in the last quarter. Hedge funds and other institutional investors own 34.81% of the company’s stock.

Shares of NASDAQ GOOG opened at $1,040.04 on Friday. Alphabet Inc. has a 1 year low of $870.38 and a 1 year high of $1,186.89. The firm has a market cap of $708,664.75, a P/E ratio of 32.45 and a beta of 1.08. The company has a current ratio of 4.87, a quick ratio of 5.11 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $9.28 by $0.65. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm had revenue of $31.15 billion for the quarter, compared to the consensus estimate of $30.28 billion. During the same period in the prior year, the firm posted $7.73 earnings per share. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year.

Alphabet declared that its board has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

A number of brokerages have issued reports on GOOG. Vetr lowered shares of Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target on the stock. in a research note on Wednesday, January 10th. Morningstar restated a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. SunTrust Banks upped their price target on shares of Alphabet to $1,250.00 and gave the company a “buy” rating in a research note on Friday, January 12th. BidaskClub lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Atlantic Securities restated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,112.47.

In other Alphabet news, Director Ann Mather sold 38 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total transaction of $44,179.18. Following the completion of the transaction, the director now directly owns 1,829 shares in the company, valued at $2,126,413.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $1,077.67, for a total transaction of $4,310,680.00. Following the transaction, the chief executive officer now owns 615 shares of the company’s stock, valued at $662,767.05. The disclosure for this sale can be found here. Insiders have sold 54,410 shares of company stock worth $58,408,136 over the last three months. 13.92% of the stock is currently owned by insiders.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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