Wealthsource Partners LLC increased its position in Alphabet Inc (NASDAQ:GOOGL) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 418 shares of the information services provider’s stock after purchasing an additional 121 shares during the quarter. Wealthsource Partners LLC’s holdings in Alphabet were worth $407,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GOOGL. Koch Industries Inc. boosted its holdings in Alphabet by 181,219.4% during the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock worth $1,085,000 after buying an additional 1,085,504 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after buying an additional 662,279 shares during the last quarter. BlackRock Inc. boosted its holdings in Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after buying an additional 567,337 shares during the last quarter. FMR LLC boosted its holdings in Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after buying an additional 367,634 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in Alphabet by 68.2% during the third quarter. State of Wisconsin Investment Board now owns 708,458 shares of the information services provider’s stock worth $689,840,000 after buying an additional 287,287 shares during the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
Alphabet Inc (NASDAQ:GOOGL) traded up $8.98 during trading hours on Wednesday, hitting $1,148.89. The company’s stock had a trading volume of 2,033,815 shares, compared to its average volume of 2,048,222. The firm has a market cap of $798,620.00, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. Alphabet Inc has a 52-week low of $824.30 and a 52-week high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). The company 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 research analysts forecast that Alphabet Inc will post 42.52 EPS for the current year.
Alphabet declared that its board has authorized 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 repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
A number of equities analysts have issued reports on GOOGL shares. Barclays raised their target price on Alphabet from $1,260.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Deutsche Bank restated a “buy” rating and set a $1,400.00 target price on shares of Alphabet in a report on Monday, January 29th. B. Riley raised their target price on Alphabet from $1,200.00 to $1,375.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Evercore ISI started coverage on Alphabet in a report on Tuesday, December 5th. They set an “outperform” rating on the stock. Finally, Robert W. Baird restated a “buy” rating and set a $1,150.00 target price on shares of Alphabet in a report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $1,167.67.
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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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