Personal Capital Advisors Corp increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 31.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,895 shares of the information services provider’s stock after buying an additional 453 shares during the quarter. Personal Capital Advisors Corp’s holdings in Alphabet were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of GOOGL. Cibc Bank USA grew its stake in Alphabet by 4.4% in the fourth quarter. Cibc Bank USA now owns 3,017 shares of the information services provider’s stock valued at $3,179,000 after purchasing an additional 126 shares in the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Alphabet in the fourth quarter valued at about $637,000. Hollencrest Capital Management grew its stake in Alphabet by 5.4% in the fourth quarter. Hollencrest Capital Management now owns 975 shares of the information services provider’s stock valued at $1,027,000 after purchasing an additional 50 shares in the last quarter. Baker Boyer National Bank purchased a new position in Alphabet in the fourth quarter valued at about $221,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its stake in Alphabet by 18.7% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 4,700 shares of the information services provider’s stock valued at $4,950,000 after purchasing an additional 740 shares in the last quarter. Institutional investors and hedge funds own 34.37% of the company’s stock.
Alphabet Inc (NASDAQ:GOOGL) opened at $1,053.15 on Friday. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $760,092.63, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 1.17 and a beta of 0.99. Alphabet Inc has a twelve month low of $824.30 and a twelve month high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). The firm had revenue of $25.87 billion during 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 research analysts expect that Alphabet Inc will post 41.21 earnings per share for the current year.
Alphabet declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
A number of research analysts have commented on the company. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,192.20 target price on the stock in a research note on Friday. MKM Partners reiterated a “buy” rating and set a $1,355.00 price target (up previously from $1,210.00) on shares of Alphabet in a research note on Wednesday, February 21st. William Blair reiterated an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Argus upped their price target on Alphabet to $1,300.00 in a research note on Monday, February 5th. Finally, Aegis reiterated a “buy” rating and set a $1,350.00 price target on shares of Alphabet in a research note on Sunday, February 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,166.73.
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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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