SeaCrest Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,824 shares of the information services provider’s stock, valued at approximately $10,349,000. Alphabet comprises 1.9% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 2nd largest holding.
Other hedge funds also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $123,000. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $126,000. Odey Holdings AG raised its position in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $137,000. Finally, Delta Asset Management LLC TN raised its position in shares of Alphabet by 57.4% in the third quarter. Delta Asset Management LLC TN now owns 170 shares of the information services provider’s stock valued at $166,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price target for the company in a research report on Monday, January 29th. Deutsche Bank reiterated a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reiterated an “overweight” rating and issued a $1,215.00 price target (up from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $1,250.00 price target (up from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 price target for the company in a research report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,172.65.
Shares of NASDAQ:GOOGL opened at $1,075.39 on Thursday. The firm has a market cap of $726,812.50, a PE ratio of 33.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. 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 52 week low of $853.53 and a 52 week high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). The business had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. equities analysts anticipate that Alphabet Inc. will post 41.18 earnings per share for the current year.
Alphabet declared that its Board of Directors has approved a share repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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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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