Psagot Investment House Ltd. cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 12.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,497 shares of the information services provider’s stock after selling 657 shares during the period. Psagot Investment House Ltd.’s holdings in Alphabet were worth $4,378,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Odey Holdings AG boosted its position in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares during the period. Stelac Advisory Services LLC purchased a new stake in Alphabet during the 3rd quarter worth $126,000. Lloyds Banking Group plc purchased a new stake in Alphabet during the 2nd quarter worth $133,000. Farmers National Bank boosted its position in Alphabet by 3.3% during the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after purchasing an additional 5 shares during the period. Finally, Hudock Capital Group LLC boosted its position in Alphabet by 11.7% during the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after purchasing an additional 17 shares during the period. 33.29% of the stock is owned by institutional investors.
A number of analysts recently weighed in on GOOGL shares. Goldman Sachs Group upped their price target on shares of Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. SunTrust Banks decreased their price target on shares of Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Argus upped their price target on shares of Alphabet to $1,300.00 in a research report on Monday, February 5th. KeyCorp reaffirmed a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a research report on Friday, October 27th. Finally, Barclays reaffirmed a “buy” rating and set a $1,260.00 price target on shares of Alphabet in a research report on Friday, October 27th. 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 assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $1,161.00.
Shares of Alphabet Inc (NASDAQ:GOOGL) opened at $1,128.09 on Friday. The firm has a market cap of $782,790.00, a PE ratio of 35.14, a P/E/G ratio of 1.15 and a beta of 0.95. Alphabet Inc has a 12 month low of $824.30 and a 12 month high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate 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%. analysts expect that Alphabet Inc will post 42.52 EPS for the current year.
Alphabet announced that its board has authorized a stock 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 buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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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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