Smith Moore & CO. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 23.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,263 shares of the information services provider’s stock after selling 383 shares during the period. Smith Moore & CO.’s holdings in Alphabet were worth $1,330,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Courier Capital LLC grew its stake in shares of Alphabet by 20.4% in the third quarter. Courier Capital LLC now owns 650 shares of the information services provider’s stock worth $633,000 after purchasing an additional 110 shares during the last quarter. HL Financial Services LLC grew its stake in shares of Alphabet by 4.5% in the third quarter. HL Financial Services LLC now owns 4,899 shares of the information services provider’s stock worth $4,770,000 after purchasing an additional 212 shares during the last quarter. HM Payson & Co. grew its stake in shares of Alphabet by 1.0% in the third quarter. HM Payson & Co. now owns 23,847 shares of the information services provider’s stock worth $23,221,000 after purchasing an additional 230 shares during the last quarter. Cedar Capital LLC grew its stake in shares of Alphabet by 12.1% in the third quarter. Cedar Capital LLC now owns 517 shares of the information services provider’s stock worth $503,000 after purchasing an additional 56 shares during the last quarter. Finally, Zweig DiMenna Associates LLC grew its stake in shares of Alphabet by 18.4% in the third quarter. Zweig DiMenna Associates LLC now owns 20,940 shares of the information services provider’s stock worth $20,390,000 after purchasing an additional 3,248 shares during the last quarter. 33.39% of the stock is currently owned by institutional investors.
Several analysts have weighed in on GOOGL shares. Barclays lifted their price objective on Alphabet from $1,260.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,192.20 price objective on the stock in a research report on Friday, March 23rd. B. Riley lifted their price objective on Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Deutsche Bank reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research report on Monday, January 29th. Finally, Canaccord Genuity reaffirmed a “hold” rating on shares of Alphabet in a research report on Tuesday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,201.44.
Alphabet opened at $1,069.64 on Monday, Marketbeat reports. Alphabet Inc. has a 52-week low of $915.31 and a 52-week high of $1,198.00. The company has a market cap of $743.34 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. The company has a quick ratio of 4.85, a current ratio of 4.87 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.21 by $0.72. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The company had revenue of $24.86 billion during the quarter, compared to analyst estimates of $24.20 billion. During the same period in the previous year, the business earned $7.73 EPS. sell-side analysts predict that Alphabet Inc. will post 40.75 EPS for the current year.
Alphabet declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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