Harvey Capital Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,358 shares of the information services provider’s stock after purchasing an additional 133 shares during the quarter. Alphabet comprises approximately 2.0% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Harvey Capital Management Inc.’s holdings in Alphabet were worth $5,644,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GOOGL. Koch Industries Inc. increased its stake in shares of Alphabet by 181,219.4% during the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after acquiring an additional 1,085,504 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 662,279 shares during the period. BlackRock Inc. increased its stake in shares of 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 acquiring an additional 567,337 shares during the period. FMR LLC increased its stake in shares of 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 acquiring an additional 367,634 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in shares of Alphabet by 68.2% during the third quarter. State of Wisconsin Investment Board now owns 708,458 shares of the information services provider’s stock valued at $689,840,000 after acquiring an additional 287,287 shares during the period. Institutional investors own 34.38% of the company’s stock.
A number of research analysts recently commented on GOOGL shares. Barclays raised their price objective on shares of Alphabet from $1,260.00 to $1,330.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,192.20 price objective on the stock in a research note on Friday, March 23rd. Deutsche Bank reiterated a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research note on Monday, January 29th. B. Riley raised their price objective on shares of Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Robert W. Baird restated a “buy” rating and issued a $1,150.00 price target on shares of Alphabet in a research report on Tuesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,172.65.
Shares of NASDAQ:GOOGL opened at $1,077.32 on Monday. The firm has a market cap of $748,503.63, a price-to-earnings ratio of 33.61, a P/E/G ratio of 1.15 and a beta of 1.05. Alphabet Inc. has a 12-month low of $857.73 and a 12-month high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) 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 analyst estimates of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities analysts forecast that Alphabet Inc. will post 41.16 EPS for the current fiscal year.
Alphabet announced that its Board of Directors has initiated 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 buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership 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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