Elefante Mark B increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 25.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 757 shares of the information services provider’s stock after purchasing an additional 153 shares during the period. Alphabet accounts for approximately 3.8% of Elefante Mark B’s portfolio, making the stock its 7th largest position. Elefante Mark B’s holdings in Alphabet were worth $797,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Odey Holdings AG lifted its position 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 last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Alphabet in the fourth quarter valued at $123,000. Stelac Advisory Services LLC purchased a new stake in Alphabet in the third quarter valued at $126,000. Wealthcare Advisory Partners LLC purchased a new stake in Alphabet in the third quarter valued at $137,000. Finally, QCI Asset Management Inc. NY lifted its position in Alphabet by 27.2% in the second quarter. QCI Asset Management Inc. NY now owns 173 shares of the information services provider’s stock valued at $161,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
Shares of GOOGL opened at $1,075.39 on Thursday. 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 Inc. has a twelve month low of $853.53 and a twelve month high of $1,198.00. The stock has a market cap of $726,812.50, a price-to-earnings ratio of 33.55, a P/E/G ratio of 1.12 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the 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 analysts anticipate that Alphabet Inc. will post 41.18 EPS for the current year.
Alphabet declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
A number of equities research analysts have recently commented on GOOGL shares. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,131.00 target price for the company in a report on Monday, April 9th. Cowen upped their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Bank of America reaffirmed a “buy” rating and issued a $1,360.00 target price (up from $1,340.00) on shares of Alphabet in a report on Friday, February 2nd. SunTrust Banks reduced their target price on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,215.00 target price (up from $1,210.00) on shares of Alphabet in a report on Friday, January 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target 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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