Bank of Montreal Can boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,188,378 shares of the information services provider’s stock after buying an additional 144,201 shares during the period. Alphabet makes up about 1.1% of Bank of Montreal Can’s investment portfolio, making the stock its 16th largest holding. Bank of Montreal Can owned 0.17% of Alphabet worth $1,251,837,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after purchasing an additional 662,279 shares in the last quarter. BlackRock Inc. lifted its position in Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after purchasing an additional 567,337 shares in the last quarter. FMR LLC lifted its position in Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after purchasing an additional 367,634 shares in the last quarter. Capital Research Global Investors lifted its position in Alphabet by 2.4% during the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after purchasing an additional 102,133 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Alphabet by 7.8% in the second quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock valued at $3,607,142,000 after acquiring an additional 280,710 shares in the last quarter. 34.38% of the stock is owned by institutional investors.
Alphabet stock traded down $22.69 during mid-day trading on Friday, reaching $1,009.95. 2,006,683 shares of the company were exchanged, compared to its average volume of 2,557,844. 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 firm has a market cap of $701,696.13, a P/E ratio of 31.51, a P/E/G ratio of 1.08 and a beta of 1.05. Alphabet Inc. has a 12-month low of $834.60 and a 12-month high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last posted 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). The company had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. equities analysts expect that Alphabet Inc. will post 41.21 earnings per share for the current year.
Alphabet announced that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price objective on the stock in a research report on Monday, January 29th. Deutsche Bank reiterated a “buy” rating and issued a $1,400.00 target price on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reiterated an “overweight” rating and issued a $1,215.00 target price (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 target price (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 target price on the stock in a research report on Monday, January 29th. One equities 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’s stock. The stock presently has a consensus rating of “Buy” and an average 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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