American International Group Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,670 shares of the information services provider’s stock after purchasing an additional 2,443 shares during the quarter. American International Group Inc.’s holdings in Alphabet were worth $135,541,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in GOOGL. Legal & General Group Plc grew its holdings in shares of Alphabet by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 1,471,048 shares of the information services provider’s stock valued at $1,432,311,000 after acquiring an additional 29,217 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Alphabet by 13.8% during the 4th quarter. Bank of Montreal Can now owns 1,188,378 shares of the information services provider’s stock valued at $1,251,837,000 after acquiring an additional 144,201 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Alphabet by 32.2% during the 3rd quarter. Edgewood Management LLC now owns 1,120,023 shares of the information services provider’s stock valued at $1,090,589,000 after acquiring an additional 272,851 shares in the last quarter. Swiss National Bank grew its holdings in shares of Alphabet by 0.3% during the 4th quarter. Swiss National Bank now owns 1,117,989 shares of the information services provider’s stock valued at $1,177,690,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Alphabet by 3.9% during the 4th quarter. Fisher Asset Management LLC now owns 1,105,876 shares of the information services provider’s stock valued at $1,164,930,000 after acquiring an additional 41,538 shares in the last quarter. 34.38% of the stock is currently owned by institutional investors.
Alphabet opened at $1,069.64 on Friday, MarketBeat.com reports. Alphabet Inc. has a 12-month low of $915.31 and a 12-month high of $1,198.00. 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 stock has a market capitalization of $751.42 billion, a P/E ratio of 33.37, a price-to-earnings-growth ratio of 1.54 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.21 by $0.72. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The firm had revenue of $24.86 billion during the quarter, compared to analyst estimates of $24.20 billion. During the same quarter in the prior year, the business posted $7.73 earnings per share. equities analysts predict that Alphabet Inc. will post 40.75 EPS for the current fiscal year.
Alphabet declared that its board has initiated a stock buyback program on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
Several research firms have recently commented on GOOGL. Aegis boosted their price target on shares of Alphabet from $1,350.00 to $1,360.00 and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday, April 25th. TheStreet upgraded shares of Alphabet from a “c+” rating to an “a-” rating in a report on Monday, April 23rd. Stifel Nicolaus upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 price objective for the company in a report on Tuesday, April 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,200.00 price objective on shares of Alphabet in a report on Tuesday, April 24th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price 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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