HL Financial Services LLC grew its position in Alphabet Inc (NASDAQ:GOOGL) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,899 shares of the information services provider’s stock after purchasing an additional 212 shares during the period. HL Financial Services LLC’s holdings in Alphabet were worth $4,770,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Novare Capital Management LLC increased its holdings in Alphabet by 0.9% during the second quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock worth $7,986,000 after buying an additional 80 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in Alphabet during the second quarter worth about $211,000. Gardiner Nancy B increased its holdings in Alphabet by 5.4% during the third quarter. Gardiner Nancy B now owns 1,450 shares of the information services provider’s stock worth $1,412,000 after buying an additional 74 shares during the last quarter. Country Trust Bank purchased a new stake in Alphabet during the second quarter worth about $44,071,000. Finally, Anchor Capital Advisors LLC increased its holdings in Alphabet by 3.0% during the second quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock worth $351,000 after buying an additional 11 shares during the last quarter. Institutional investors own 33.60% of the company’s stock.
A number of analysts recently issued reports on GOOGL shares. CIBC restated an “outperform” rating and set a $1,180.00 price objective (up previously from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Cowen increased their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Citigroup reiterated a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Goldman Sachs Group increased their target price on shares of Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. Finally, Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $1,157.02.
Shares of Alphabet Inc (GOOGL) opened at $1,054.56 on Tuesday. The firm has a market cap of $729,860.00, a P/E ratio of 58.72, a P/E/G ratio of 1.08 and a beta of 0.95. 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 Inc has a one year low of $824.30 and a one year high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share 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 analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities analysts anticipate that Alphabet Inc will post 42.51 EPS for the current fiscal year.
Alphabet announced that its Board of Directors has authorized a share repurchase 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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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