NEXT Financial Group Inc decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 31.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,451 shares of the information services provider’s stock after selling 652 shares during the period. NEXT Financial Group Inc’s holdings in Alphabet were worth $1,528,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Odey Holdings AG increased its stake in 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 acquiring an additional 20 shares during the period. Stelac Advisory Services LLC bought a new stake in Alphabet in the third quarter valued at about $126,000. Wealthcare Advisory Partners LLC bought a new stake in Alphabet in the third quarter valued at about $137,000. Farmers National Bank increased its stake in 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 acquiring an additional 5 shares during the period. Finally, Hudock Capital Group LLC increased its stake in 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 acquiring an additional 17 shares during the period. 34.38% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on GOOGL. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. William Blair reissued an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 target price on the stock in a research note on Monday, February 5th. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $1,285.00 target price on shares of Alphabet in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,180.20.
Shares of GOOGL stock traded down $22.69 during trading hours on Friday, reaching $1,009.95. 2,006,683 shares of the company were exchanged, compared to its average volume of 2,557,844. Alphabet Inc. has a fifty-two week low of $834.60 and a fifty-two week high of $1,198.00. The firm has a market capitalization of $701,696.13, a price-to-earnings ratio of 31.51, a PEG ratio of 1.08 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 (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 analyst estimates of $25.65 billion. equities research analysts forecast that Alphabet Inc. will post 41.21 earnings per share for the current fiscal year.
Alphabet declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors 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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