Alphabet Inc (GOOGL) Shares Bought by State of Wisconsin Investment Board

State of Wisconsin Investment Board grew its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 68.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 708,458 shares of the information services provider’s stock after purchasing an additional 287,287 shares during the quarter. Alphabet makes up approximately 2.0% of State of Wisconsin Investment Board’s holdings, making the stock its 3rd biggest position. State of Wisconsin Investment Board owned about 0.10% of Alphabet worth $689,840,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after acquiring an additional 662,279 shares in the last quarter. BlackRock Inc. increased its holdings in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. FMR LLC increased its holdings in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after acquiring an additional 367,634 shares in the last quarter. Capital Research Global Investors increased its holdings in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after acquiring an additional 102,133 shares in the last quarter. Finally, Capital World Investors increased its holdings in Alphabet by 7.8% in the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after acquiring an additional 280,710 shares in the last quarter. 33.63% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on GOOGL shares. CIBC reissued an “outperform” rating and issued a $1,180.00 target price (up from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Pivotal Research reissued a “hold” rating and issued a $970.00 target price on shares of Alphabet in a report on Friday, October 13th. Citigroup restated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, October 11th. Finally, Goldman Sachs Group upped their price target on Alphabet from $1,125.00 to $1,175.00 in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $1,150.22.

Shares of Alphabet Inc (GOOGL) traded down $62.39 on Friday, reaching $1,119.20. The company had a trading volume of 5,798,880 shares, compared to its average volume of 1,680,000. The company has a market capitalization of $775,070.00, a P/E ratio of 62.35, a PEG ratio of 1.46 and a beta of 0.95. Alphabet Inc has a 12 month low of $814.29 and a 12 month high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). The company had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a return on equity of 15.00% and a net margin of 11.42%. sell-side analysts anticipate that Alphabet Inc will post 41.91 EPS for the current year.

Alphabet announced that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Alphabet Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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