Pecaut & CO. Grows Holdings in Alphabet Inc (GOOG)

Pecaut & CO. boosted its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 7,257 shares of the information services provider’s stock after purchasing an additional 71 shares during the quarter. Alphabet accounts for 6.0% of Pecaut & CO.’s investment portfolio, making the stock its 3rd largest position. Pecaut & CO.’s holdings in Alphabet were worth $8,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Gradient Investments LLC increased its position in shares of Alphabet by 26.9% during the 2nd quarter. Gradient Investments LLC now owns 834 shares of the information services provider’s stock valued at $930,000 after purchasing an additional 177 shares during the last quarter. AKO Capital LLP increased its position in shares of Alphabet by 15.6% during the 2nd quarter. AKO Capital LLP now owns 60,790 shares of the information services provider’s stock valued at $67,820,000 after purchasing an additional 8,186 shares during the last quarter. Swiss National Bank increased its position in shares of Alphabet by 3.2% during the 2nd quarter. Swiss National Bank now owns 1,041,066 shares of the information services provider’s stock valued at $1,161,465,000 after purchasing an additional 32,000 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $424,000. Finally, Tower Bridge Advisors increased its position in shares of Alphabet by 0.7% during the 2nd quarter. Tower Bridge Advisors now owns 16,871 shares of the information services provider’s stock valued at $18,822,000 after purchasing an additional 117 shares during the last quarter. 34.02% of the stock is currently owned by institutional investors.

Get Alphabet alerts:

GOOG stock opened at $1,110.37 on Friday. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,273.89. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $762.60 billion, a price-to-earnings ratio of 23.09 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $10.86 by $1.91. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. The business had revenue of $39.28 billion during the quarter, compared to the consensus estimate of $38.91 billion. During the same period in the prior year, the company posted $9.70 EPS. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year.

Several research firms have recently commented on GOOG. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 6th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, February 5th. UBS Group reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, February 5th. Deutsche Bank reiterated a “buy” rating and set a $1,380.00 price objective (up from $1,300.00) on shares of Alphabet in a research note on Tuesday, February 5th. Finally, Piper Jaffray Companies boosted their price objective on Alphabet from $1,250.00 to $1,355.00 and gave the company an “overweight” rating in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,327.66.

In other news, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $1,041.75, for a total transaction of $10,417,500.00. Following the completion of the transaction, the chief executive officer now directly owns 830 shares in the company, valued at approximately $864,652.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Amie Thuener O’toole sold 89 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $1,112.66, for a total value of $99,026.74. The disclosure for this sale can be found here. Insiders sold a total of 51,897 shares of company stock valued at $54,565,299 over the last 90 days. 13.11% of the stock is currently owned by corporate insiders.

WARNING: “Pecaut & CO. Grows Holdings in Alphabet Inc (GOOG)” was originally posted by Ticker Report and is the property of of Ticker Report. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at https://www.tickerreport.com/banking-finance/4173781/pecaut-co-grows-holdings-in-alphabet-inc-goog.html.

Alphabet Company Profile

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.

Featured Article: Preferred Stock

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).