Alphabet Inc. (NASDAQ:GOOG) is Causeway Capital Management LLC’s 4th Largest Position

Causeway Capital Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,971 shares of the information services provider’s stock after buying an additional 3,651 shares during the period. Alphabet makes up about 3.4% of Causeway Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Causeway Capital Management LLC’s holdings in Alphabet were worth $156,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Hoese & Co LLP raised its position in Alphabet by 400.0% in the fourth quarter. Hoese & Co LLP now owns 10 shares of the information services provider’s stock worth $29,000 after acquiring an additional 8 shares during the period. Maryland Capital Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter worth $29,000. Paragon Capital Management Ltd bought a new position in Alphabet in the 4th quarter worth $35,000. Schubert & Co purchased a new position in Alphabet during the fourth quarter valued at $43,000. Finally, Steward Financial Group LLC purchased a new position in Alphabet during the fourth quarter valued at $66,000. 31.20% of the stock is owned by institutional investors.

In related news, SVP Prabhakar Raghavan sold 1,276 shares of Alphabet stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total transaction of $3,593,841.24. Following the completion of the transaction, the senior vice president now directly owns 14,034 shares of the company’s stock, valued at approximately $39,526,620.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 25 shares of the company’s stock in a transaction dated Tuesday, March 22nd. The shares were sold at an average price of $2,800.00, for a total transaction of $70,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 573,715 shares of company stock worth $84,154,881. Corporate insiders own 12.99% of the company’s stock.

Shares of NASDAQ:GOOG traded up $38.18 on Tuesday, reaching $2,334.03. The company’s stock had a trading volume of 66,808 shares, compared to its average volume of 1,724,898. The company has a 50-day simple moving average of $2,574.69 and a 200 day simple moving average of $2,733.27. Alphabet Inc. has a 52-week low of $2,202.27 and a 52-week high of $3,042.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The company has a market cap of $1.54 trillion, a P/E ratio of 20.77, a PEG ratio of 1.09 and a beta of 1.13.

Alphabet shares are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period in the prior year, the firm earned $26.29 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 112.62 EPS for the current fiscal year.

Several research analysts have recently commented on GOOG shares. Bank of America raised their price objective on Alphabet from $3,210.00 to $3,470.00 in a research note on Wednesday, January 19th. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 25th. Canaccord Genuity Group upped their price target on shares of Alphabet from $3,350.00 to $3,500.00 and gave the stock a “buy” rating in a research report on Wednesday, February 2nd. Oppenheimer restated an “outperform” rating and set a $3,290.00 price objective on shares of Alphabet in a research report on Thursday, April 28th. Finally, Monness Crespi & Hardt lifted their target price on shares of Alphabet from $3,660.00 to $3,850.00 and gave the company a “buy” rating in a research note on Wednesday, February 2nd. One research analyst has rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $3,308.77.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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