Peregrine Asset Advisers Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,483 shares of the information services provider’s stock after acquiring an additional 97 shares during the period. Alphabet comprises 1.3% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 28th biggest holding. Peregrine Asset Advisers Inc.’s holdings in Alphabet were worth $2,615,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Odey Holdings AG boosted its holdings in shares of Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $126,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $137,000. QCI Asset Management Inc. NY boosted its holdings in shares of Alphabet by 27.2% in the 2nd quarter. QCI Asset Management Inc. NY now owns 173 shares of the information services provider’s stock valued at $161,000 after buying an additional 37 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its position in Alphabet by 57.4% in the 3rd quarter. Delta Asset Management LLC TN now owns 170 shares of the information services provider’s stock valued at $166,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 34.38% of the company’s stock.
Shares of Alphabet stock opened at $1,046.10 on Tuesday. The firm has a market cap of $719,823.00, a price-to-earnings ratio of 32.64, a PEG ratio of 1.11 and a beta of 1.05. 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 Inc. has a one year low of $841.03 and a one year high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last announced its quarterly 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). The company had revenue of $25.87 billion during 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%. equities research analysts forecast that Alphabet Inc. will post 41.18 earnings per share for the current year.
Alphabet declared that its Board of Directors has initiated a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,156.80 price target for the company in a research report on Tuesday, April 10th. MED assumed coverage on shares of Alphabet in a research report on Wednesday, April 11th. They issued a “buy” rating and a $1,036.50 price target for the company. Monness Crespi & Hardt assumed coverage on shares of Alphabet in a research report on Wednesday, April 11th. They issued a “buy” rating and a $1,280.00 price target for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,175.00 price target (down previously from $1,200.00) on shares of Alphabet in a research report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $1,172.65.
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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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