Gerber Kawasaki Wealth & Investment Management Sells 616 Shares of Alphabet Inc (GOOG)

Gerber Kawasaki Wealth & Investment Management lowered its position in Alphabet Inc (NASDAQ:GOOG) by 15.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,453 shares of the information services provider’s stock after selling 616 shares during the quarter. Alphabet accounts for approximately 1.2% of Gerber Kawasaki Wealth & Investment Management’s investment portfolio, making the stock its 26th largest position. Gerber Kawasaki Wealth & Investment Management’s holdings in Alphabet were worth $3,373,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Alphabet by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after purchasing an additional 589,654 shares during the period. BlackRock Inc. increased its position in Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the period. FMR LLC increased its position in Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after purchasing an additional 62,507 shares during the period. Capital World Investors boosted its holdings in shares of Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Alphabet by 3.2% during the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after buying an additional 155,151 shares in the last quarter. 34.46% of the stock is owned by institutional investors.

In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the completion of the sale, the chief executive officer now directly owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Grier Campbell sold 238 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $1,162.61, for a total value of $276,701.18. The disclosure for this sale can be found here. Insiders sold a total of 27,435 shares of company stock valued at $29,030,612 over the last three months. 13.92% of the stock is currently owned by insiders.

A number of equities analysts have issued reports on the company. Deutsche Bank restated a “buy” rating on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, January 26th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Jefferies Group restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, Atlantic Securities restated a “buy” rating on shares of Alphabet in a 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 stock currently has an average rating of “Buy” and an average price target of $1,061.93.

Shares of Alphabet Inc (NASDAQ:GOOG) opened at $1,069.70 on Thursday. The company has a market capitalization of $744,090.00, a price-to-earnings ratio of 59.56 and a beta of 1.01. Alphabet Inc has a 12-month low of $803.37 and a 12-month high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.07 by ($0.37). The company had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company’s quarterly revenue was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company posted $9.36 earnings per share.

Alphabet announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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About Alphabet

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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