Amalgamated Bank increased its stake in Alphabet Inc (NASDAQ:GOOGL) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,925 shares of the information services provider’s stock after acquiring an additional 788 shares during the period. Alphabet makes up about 1.1% of Amalgamated Bank’s holdings, making the stock its 10th largest holding. Amalgamated Bank’s holdings in Alphabet were worth $34,981,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Stelac Advisory Services LLC purchased a new position in shares of Alphabet during the third quarter worth about $126,000. Odey Holdings AG grew its holdings in shares of Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Lloyds Banking Group plc purchased a new position in shares of Alphabet during the second quarter worth about $133,000. Farmers National Bank grew its holdings in shares of Alphabet by 3.3% during the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after buying an additional 5 shares during the last quarter. Finally, Hudock Capital Group LLC grew its holdings in shares of Alphabet by 11.7% during the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 33.88% of the company’s stock.
Shares of Alphabet Inc (NASDAQ GOOGL) traded up $14.34 during trading hours on Thursday, hitting $1,129.38. 1,726,412 shares of the company were exchanged, compared to its average volume of 2,380,000. 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 $824.30 and a twelve month high of $1,198.00. The company has a market cap of $782,930.00, a P/E ratio of 35.18, a PEG ratio of 1.14 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. analysts expect that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
GOOGL has been the subject of a number of recent analyst reports. Cowen raised their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Bank of America restated a “buy” rating and issued a $1,360.00 price objective (up previously from $1,340.00) on shares of Alphabet in a research report on Friday, February 2nd. SunTrust Banks reduced their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Morgan Stanley restated an “overweight” rating and issued a $1,215.00 price objective (up previously from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Finally, Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,160.79.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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