FineMark National Bank & Trust grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,096 shares of the information services provider’s stock after buying an additional 182 shares during the period. FineMark National Bank & Trust’s holdings in Alphabet were worth $5,368,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Elite Wealth Management Inc. purchased a new position in shares of Alphabet during the fourth quarter worth about $4,414,000. Arcadia Investment Management Corp MI grew its holdings in shares of Alphabet by 3.9% during the fourth quarter. Arcadia Investment Management Corp MI now owns 4,545 shares of the information services provider’s stock worth $4,788,000 after purchasing an additional 169 shares in the last quarter. First Merchants Corp grew its holdings in shares of Alphabet by 7.5% during the fourth quarter. First Merchants Corp now owns 1,944 shares of the information services provider’s stock worth $2,048,000 after purchasing an additional 136 shares in the last quarter. MAI Capital Management grew its holdings in shares of Alphabet by 15.9% during the fourth quarter. MAI Capital Management now owns 6,149 shares of the information services provider’s stock worth $6,477,000 after purchasing an additional 845 shares in the last quarter. Finally, Capital Management Corp VA grew its holdings in shares of Alphabet by 198.5% during the fourth quarter. Capital Management Corp VA now owns 5,147 shares of the information services provider’s stock worth $5,422,000 after purchasing an additional 3,423 shares in the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
GOOGL has been the subject of several recent analyst reports. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a report on Tuesday, December 26th. SunTrust Banks cut their price objective on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Monness Crespi & Hardt reissued a “buy” rating and set a $1,250.00 price objective (up previously from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Cowen boosted their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, B. Riley boosted their price objective on Alphabet from $1,200.00 to $1,375.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $1,180.20.
NASDAQ:GOOGL opened at $1,009.95 on Monday. The company has a market cap of $701,696.13, a PE ratio of 31.51, a P/E/G ratio of 1.08 and a beta of 1.05. 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 quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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 net margin of 11.42% and a return on equity of 14.94%. sell-side analysts anticipate that Alphabet Inc. will post 41.21 earnings per share for the current year.
Alphabet announced that its board has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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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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