Pennsylvania Trust Co lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 40.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,298 shares of the information services provider’s stock after selling 12,679 shares during the period. Pennsylvania Trust Co’s holdings in Alphabet were worth $19,275,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new position in Alphabet during the third quarter worth about $126,000. Odey Holdings AG boosted its position in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Alphabet during the third quarter worth about $137,000. Farmers National Bank boosted its position in Alphabet by 3.3% during the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after acquiring an additional 5 shares during the last quarter. Finally, Hudock Capital Group LLC boosted its position in Alphabet by 11.7% during the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after acquiring an additional 17 shares during the last quarter. 34.38% of the stock is owned by institutional investors and hedge funds.
GOOGL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price target on the stock in a research report on Tuesday, December 26th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 target price on the stock in a report on Tuesday, December 26th. Robert W. Baird reiterated a “buy” rating and issued a $1,150.00 target price on shares of Alphabet in a report on Tuesday, January 2nd. Cowen boosted their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a report on Friday, January 12th. 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 given a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,180.20.
Shares of GOOGL opened at $1,009.95 on Friday. Alphabet Inc. has a fifty-two week low of $834.60 and a fifty-two week high of $1,198.00. The company has a market cap of $715,425.00, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
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 consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. research analysts forecast that Alphabet Inc. will post 41.21 earnings per share for the current fiscal year.
Alphabet announced that its Board of Directors has authorized a stock repurchase 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. Shares buyback programs are generally an indication that the company’s leadership believes its shares are 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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