Hanson & Doremus Investment Management increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 379 shares of the information services provider’s stock after purchasing an additional 16 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Alphabet were worth $508,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Red Spruce Capital LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $5,017,000. Pacific Wealth Strategies Group Inc. grew its holdings in shares of Alphabet by 2.3% in the 4th quarter. Pacific Wealth Strategies Group Inc. now owns 3,358 shares of the information services provider’s stock worth $4,498,000 after acquiring an additional 75 shares during the last quarter. Cullinan Associates Inc. raised its position in shares of Alphabet by 3.7% during the fourth quarter. Cullinan Associates Inc. now owns 16,234 shares of the information services provider’s stock worth $21,744,000 after purchasing an additional 574 shares during the period. IMS Capital Management raised its position in shares of Alphabet by 3.9% during the fourth quarter. IMS Capital Management now owns 424 shares of the information services provider’s stock worth $568,000 after purchasing an additional 16 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in shares of Alphabet by 27.0% during the fourth quarter. AE Wealth Management LLC now owns 6,501 shares of the information services provider’s stock valued at $8,707,000 after purchasing an additional 1,383 shares during the last quarter. 33.55% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on GOOGL shares. Bernstein Bank started coverage on shares of Alphabet in a research report on Friday, January 10th. They issued an “outperform” rating and a $1,600.00 price target for the company. Sanford C. Bernstein started coverage on shares of Alphabet in a research report on Friday, January 10th. They set an “outperform” rating and a $1,600.00 price objective on the stock. Evercore ISI reissued a “positive” rating and set a $1,600.00 target price (up from $1,350.00) on shares of Alphabet in a research note on Monday. Pivotal Research reissued a “buy” rating and set a $1,650.00 target price on shares of Alphabet in a research note on Monday, January 6th. Finally, KeyCorp increased their target price on Alphabet from $1,516.00 to $1,546.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $1,438.05.
GOOGL stock traded up $5.37 on Thursday, reaching $1,444.57. 482,537 shares of the company were exchanged, compared to its average volume of 1,268,867. Alphabet Inc has a 12 month low of $1,027.03 and a 12 month high of $1,442.63. The stock’s fifty day moving average price is $1,356.66 and its 200 day moving average price is $1,248.24. The firm has a market capitalization of $996.31 billion, a PE ratio of 30.41, a PEG ratio of 1.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company had revenue of $33.01 billion for the quarter, compared to the consensus estimate of $32.84 billion. During the same period last year, the firm posted $13.06 EPS. As a group, research analysts expect that Alphabet Inc will post 49.03 EPS for the current fiscal year.
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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