Louisiana State Employees Retirement System reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the information services provider’s stock after selling 600 shares during the quarter. Alphabet makes up about 0.9% of Louisiana State Employees Retirement System’s holdings, making the stock its 10th largest position. Louisiana State Employees Retirement System’s holdings in Alphabet were worth $18,961,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Odey Holdings AG raised its stake in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Alphabet in the third quarter valued at $126,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Alphabet in the third quarter valued at $137,000. Farmers National Bank raised its stake in shares of Alphabet by 3.3% in the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after buying an additional 5 shares during the period. Finally, Hudock Capital Group LLC raised its stake in shares of Alphabet by 11.7% in the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock valued at $150,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 34.38% of the company’s stock.
Shares of NASDAQ GOOGL traded down $22.69 during midday trading on Friday, reaching $1,009.95. The company had a trading volume of 2,004,529 shares, compared to its average volume of 2,557,844. Alphabet Inc. has a one year low of $834.60 and a one year high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market cap of $717,460.75, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last released 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). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. equities research analysts forecast that Alphabet Inc. will post 41.21 earnings per share for the current fiscal year.
Alphabet announced that its board has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently weighed in on GOOGL shares. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price target for the company in a research report on Monday, January 29th. Deutsche Bank reiterated a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reiterated an “overweight” rating and issued a $1,215.00 price target (up from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $1,250.00 price target (up from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 price target for the company in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,180.20.
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Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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