First National Bank of Omaha trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 15,806 shares of the information services provider’s stock after selling 600 shares during the quarter. Alphabet comprises 1.0% of First National Bank of Omaha’s portfolio, making the stock its 18th largest holding. First National Bank of Omaha’s holdings in Alphabet were worth $16,539,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Rothschild Capital Partners LLC bought a new stake in Alphabet in the 3rd quarter valued at $3,161,000. Founders Capital Management LLC lifted its position in Alphabet by 1,868.4% in the 3rd quarter. Founders Capital Management LLC now owns 9,468 shares of the information services provider’s stock valued at $9,081,000 after acquiring an additional 8,987 shares in the last quarter. Quantitative Systematic Strategies LLC lifted its position in Alphabet by 285.8% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 1,408 shares of the information services provider’s stock valued at $1,350,000 after acquiring an additional 1,043 shares in the last quarter. Argent Trust Co lifted its position in Alphabet by 3.7% in the 3rd quarter. Argent Trust Co now owns 2,110 shares of the information services provider’s stock valued at $2,024,000 after acquiring an additional 75 shares in the last quarter. Finally, Commonwealth Equity Services Inc lifted its position in Alphabet by 4.4% in the 3rd quarter. Commonwealth Equity Services Inc now owns 47,546 shares of the information services provider’s stock valued at $45,602,000 after acquiring an additional 1,999 shares in the last quarter. 34.86% of the stock is currently owned by institutional investors.
In related news, SVP David C. Drummond sold 5,690 shares of the company’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total value of $6,625,606.70. Following the transaction, the senior vice president now owns 2,897 shares in the company, valued at approximately $3,373,353.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the completion of the transaction, the chief executive officer now owns 656 shares in the company, valued at approximately $739,423.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,410 shares of company stock worth $58,606,136. 13.92% of the stock is owned by company insiders.
Shares of GOOG opened at $1,029.27 on Friday. Alphabet Inc. has a 52 week low of $824.47 and a 52 week high of $1,186.89. The stock has a market capitalization of $708,657.81, a P/E ratio of 32.11 and a beta of 1.08. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. During the same quarter last year, the company posted $9.36 EPS. The firm’s quarterly revenue was up 24.0% on a year-over-year basis.
Alphabet declared that its Board of Directors has approved 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 reacquire shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
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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.
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