Westfield Capital Management Co. LP grew its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.7% in the 3rd quarter, Holdings Channel reports. The firm owned 182,402 shares of the information services provider’s stock after acquiring an additional 9,916 shares during the quarter. Alphabet accounts for about 1.4% of Westfield Capital Management Co. LP’s portfolio, making the stock its 11th largest holding. Westfield Capital Management Co. LP’s holdings in Alphabet were worth $177,608,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Odey Holdings AG grew its position in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the period. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $126,000. Lloyds Banking Group plc acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $133,000. Farmers National Bank grew its position in Alphabet by 3.3% in the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after purchasing an additional 5 shares during the period. Finally, Hudock Capital Group LLC grew its position in Alphabet by 11.7% in the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 33.60% of the company’s stock.
GOOGL has been the subject of several research reports. CIBC reissued an “outperform” rating and issued a $1,180.00 price target (up previously from $1,050.00) on shares of Alphabet in a research report on Friday, October 27th. Cowen lifted their price target on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Citigroup reissued a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and issued a $1,360.00 price target (up previously from $1,340.00) on shares of Alphabet in a research report on Friday, February 2nd. Finally, Goldman Sachs Group lifted their price target on shares of Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $1,157.02.
Shares of Alphabet Inc (NASDAQ:GOOGL) opened at $1,095.50 on Friday. The company has a market capitalization of $761,134.81, a price-to-earnings ratio of 61.00, a PEG ratio of 1.13 and a beta of 0.95. Alphabet Inc has a 52 week low of $824.30 and a 52 week high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The business had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. research analysts predict that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet announced that its board has approved a share buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally 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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