Peddock Capital Advisors LLC grew its position in Alphabet Inc (NASDAQ:GOOGL) by 813.0% in the third quarter, Holdings Channel reports. The fund owned 1,689 shares of the information services provider’s stock after buying an additional 1,504 shares during the quarter. Alphabet comprises 0.8% of Peddock Capital Advisors LLC’s portfolio, making the stock its 17th biggest position. Peddock Capital Advisors LLC’s holdings in Alphabet were worth $1,645,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. AMP Capital Investors Ltd raised its position in Alphabet by 3.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 171,643 shares of the information services provider’s stock worth $167,132,000 after purchasing an additional 4,961 shares during the last quarter. Lido Advisors LLC raised its position in Alphabet by 5.0% in the 3rd quarter. Lido Advisors LLC now owns 2,030 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 96 shares during the last quarter. B. Riley Financial Inc. bought a new position in Alphabet in the 3rd quarter worth approximately $257,000. Tekne Capital Management LLC raised its position in Alphabet by 16.5% in the 3rd quarter. Tekne Capital Management LLC now owns 55,195 shares of the information services provider’s stock worth $53,744,000 after purchasing an additional 7,815 shares during the last quarter. Finally, Aureus Asset Management LLC raised its position in Alphabet by 8.0% in the 3rd quarter. Aureus Asset Management LLC now owns 19,002 shares of the information services provider’s stock worth $18,503,000 after purchasing an additional 1,410 shares during the last quarter. Institutional investors own 33.29% of the company’s stock.
GOOGL has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Alphabet from $1,260.00 to $1,330.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Deutsche Bank restated a “buy” rating and issued a $1,400.00 price objective on shares of Alphabet in a research report on Monday, January 29th. B. Riley boosted their price objective on shares of Alphabet from $1,200.00 to $1,375.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Evercore ISI initiated coverage on shares of Alphabet in a research report on Tuesday, December 5th. They issued an “outperform” rating for the company. Finally, Robert W. Baird restated a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,161.00.
Alphabet Inc (NASDAQ GOOGL) opened at $1,109.90 on Friday. Alphabet Inc has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00. The stock has a market cap of $773,814.56, a price-to-earnings ratio of 34.79, a PEG ratio of 1.15 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 (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 the Zacks’ consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion during the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. sell-side analysts expect that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet declared that its Board of Directors has authorized a share buyback 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 purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are 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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