Harbor Advisory Corp MA bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,184 shares of the information services provider’s stock, valued at approximately $3,354,000. Alphabet makes up about 3.2% of Harbor Advisory Corp MA’s investment portfolio, making the stock its 13th biggest position.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Odey Holdings AG lifted 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 last quarter. Stelac Advisory Services LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $126,000. Wealthcare Advisory Partners LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $137,000. Farmers National Bank lifted its position in shares of Alphabet by 3.3% during the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after buying an additional 5 shares during the last quarter. Finally, QCI Asset Management Inc. NY lifted its position in shares of Alphabet by 27.2% during the 2nd quarter. QCI Asset Management Inc. NY now owns 173 shares of the information services provider’s stock worth $161,000 after buying an additional 37 shares during the last quarter. 34.38% of the stock is currently owned by institutional investors.
Shares of GOOGL opened at $1,009.95 on Friday. Alphabet Inc. has a 1 year low of $834.60 and a 1 year high of $1,198.00. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market cap of $717,460.75, a PE ratio of 31.51, a P/E/G ratio of 1.10 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. research analysts anticipate that Alphabet Inc. will post 41.21 EPS for the current fiscal year.
Alphabet declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
GOOGL has been the subject of several recent analyst reports. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research report on Tuesday, December 26th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 price objective for the company in a research report on Tuesday, December 26th. Robert W. Baird restated a “buy” rating and set a $1,150.00 price objective on shares of Alphabet in a research report on Tuesday, January 2nd. Cowen upped their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, SunTrust Banks restated a “buy” rating and set a $1,250.00 price objective on shares of Alphabet in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target 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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