Stelac Advisory Services LLC Boosts Holdings in Alphabet Inc. (GOOGL)

Stelac Advisory Services LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 61.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 208 shares of the information services provider’s stock after acquiring an additional 79 shares during the quarter. Stelac Advisory Services LLC’s holdings in Alphabet were worth $219,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bingham Osborn & Scarborough LLC grew its holdings in shares of Alphabet by 4.1% in the fourth quarter. Bingham Osborn & Scarborough LLC now owns 1,098 shares of the information services provider’s stock worth $1,157,000 after purchasing an additional 43 shares during the last quarter. Valicenti Advisory Services Inc. grew its holdings in shares of Alphabet by 0.9% in the fourth quarter. Valicenti Advisory Services Inc. now owns 4,872 shares of the information services provider’s stock worth $5,132,000 after purchasing an additional 45 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in shares of Alphabet by 1.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 3,310 shares of the information services provider’s stock worth $3,487,000 after purchasing an additional 45 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Alphabet by 4.7% in the fourth quarter. Meridian Wealth Management LLC now owns 1,046 shares of the information services provider’s stock worth $1,039,000 after purchasing an additional 47 shares during the last quarter. Finally, BLB&B Advisors LLC grew its holdings in shares of Alphabet by 1.9% in the fourth quarter. BLB&B Advisors LLC now owns 2,553 shares of the information services provider’s stock worth $2,689,000 after purchasing an additional 48 shares during the last quarter. 33.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GOOGL stock opened at $1,075.31 on Wednesday. Alphabet Inc. has a 12 month low of $915.31 and a 12 month high of $1,198.00. The firm has a market cap of $753.33 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $24.20 billion. During the same quarter in the previous year, the business posted $7.73 EPS. analysts expect that Alphabet Inc. will post 40.75 earnings per share for the current year.

Alphabet declared that its board has initiated a stock repurchase program 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. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

GOOGL has been the topic of several recent analyst reports. Vetr cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,212.65 target price on the stock. in a report on Tuesday, January 23rd. Morgan Stanley restated an “overweight” rating and issued a $1,215.00 target price (up previously from $1,210.00) on shares of Alphabet in a report on Friday, January 26th. Monness Crespi & Hardt restated a “buy” rating and issued a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 target price on the stock in a report on Monday, January 29th. Finally, Deutsche Bank restated a “buy” rating and issued a $1,400.00 target price on shares of Alphabet in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,201.44.

About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply