GM Advisory Group Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 20.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,085 shares of the information services provider’s stock after acquiring an additional 184 shares during the period. GM Advisory Group Inc.’s holdings in Alphabet were worth $1,143,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Alphabet during the 4th quarter worth approximately $108,000. Stuart Chaussee & Associates Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $123,000. Lee Financial Co increased its stake in Alphabet by 500.0% during the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after buying an additional 100 shares during the period. Stelac Advisory Services LLC purchased a new stake in Alphabet during the 3rd quarter worth approximately $126,000. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Alphabet during the 3rd quarter worth approximately $137,000. 33.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet stock opened at $1,069.64 on Monday. Alphabet Inc. has a 12-month low of $915.31 and a 12-month high of $1,198.00. The company has a quick ratio of 4.85, a current ratio of 4.87 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $743.34 billion, a PE ratio of 31.27, a P/E/G ratio of 1.53 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $24.86 billion during the quarter, compared to analysts’ expectations of $24.20 billion. During the same quarter in the prior year, the business posted $7.73 EPS. research analysts expect that Alphabet Inc. will post 40.75 earnings per share for the current year.
Alphabet declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.
Several equities research analysts recently weighed in on GOOGL shares. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,131.00 target price on the stock in a research note on Monday, April 9th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $1,306.00 target price (up from $1,280.00) on shares of Alphabet in a research note on Tuesday, April 24th. Bank of America reaffirmed a “buy” rating and set a $1,360.00 target price (up from $1,340.00) on shares of Alphabet in a research note on Friday, February 2nd. Barclays cut their target price on shares of Alphabet to $1,250.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 24th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,215.00 price target (up previously from $1,210.00) on shares of Alphabet in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock 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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