BTIM Corp. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 32,738 shares of the information services provider’s stock after selling 377 shares during the quarter. BTIM Corp.’s holdings in Alphabet were worth $34,486,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Arlington Partners LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $679,000. TIAA FSB grew its position in shares of Alphabet by 0.9% during the fourth quarter. TIAA FSB now owns 38,716 shares of the information services provider’s stock worth $40,784,000 after acquiring an additional 357 shares during the last quarter. Epstein & White Financial LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $267,000. Guinness Asset Management Ltd grew its position in shares of Alphabet by 25.7% during the fourth quarter. Guinness Asset Management Ltd now owns 4,837 shares of the information services provider’s stock worth $5,095,000 after acquiring an additional 990 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc grew its position in shares of Alphabet by 11.7% during the fourth quarter. Guinness Atkinson Asset Management Inc now owns 7,250 shares of the information services provider’s stock worth $7,637,000 after acquiring an additional 760 shares during the last quarter. Institutional investors and hedge funds own 34.38% of the company’s stock.
GOOGL has been the topic of a number of research reports. Barclays raised their target price 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. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,192.20 price objective on the stock in a research report on Friday, March 23rd. Deutsche Bank reiterated 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 lifted their price objective on shares of Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $1,180.20.
Alphabet stock opened at $1,009.95 on Friday. Alphabet Inc. has a one year low of $834.60 and a one year high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The firm has a market capitalization of $715,425.00, a price-to-earnings 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 EPS 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 business had revenue of $25.87 billion during the quarter, compared to analyst estimates of $25.65 billion. analysts predict that Alphabet Inc. will post 41.21 earnings per share for the current year.
Alphabet declared that its board has initiated a stock repurchase program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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Alphabet Company Profile
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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