Mutual Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 935 shares of the information services provider’s stock, valued at approximately $985,000.
A number of other hedge funds also recently modified their holdings of the stock. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Alphabet in the 4th quarter valued at approximately $108,000. Stuart Chaussee & Associates Inc. purchased a new stake in Alphabet in the 4th quarter valued at approximately $123,000. Stelac Advisory Services LLC purchased a new stake in Alphabet in the 3rd quarter valued at approximately $126,000. Lee Financial Co boosted its holdings in Alphabet by 500.0% in the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock valued at $126,000 after purchasing an additional 100 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Alphabet in the 3rd quarter valued at approximately $137,000. Hedge funds and other institutional investors own 33.39% of the company’s stock.
Shares of Alphabet opened at $1,085.96 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The firm has a market capitalization of $747.28 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $915.31 and a fifty-two week high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $9.21 by $0.72. The company had revenue of $24.86 billion during the quarter, compared to the consensus estimate of $24.20 billion. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. During the same period in the previous year, the firm posted $7.73 EPS. analysts forecast that Alphabet Inc. will post 40.75 EPS for the current year.
Alphabet declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
GOOGL has been the topic of a number of analyst reports. Argus lifted their price objective on Alphabet to $1,300.00 in a report on Monday, February 5th. Credit Suisse Group decreased their price target on Alphabet from $1,350.00 to $1,400.00 in a research note on Monday, April 23rd. TheStreet raised Alphabet from a “c+” rating to an “a-” rating in a research note on Monday, April 23rd. B. Riley boosted their price target on Alphabet from $1,200.00 to $1,375.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 price target on the stock in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,201.44.
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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