Portland Global Advisors LLC decreased its stake in Alphabet Inc (NASDAQ:GOOGL) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 405 shares of the information services provider’s stock after selling 86 shares during the quarter. Portland Global Advisors LLC’s holdings in Alphabet were worth $423,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Vestor Capital LLC acquired a new position in shares of Alphabet during the third quarter valued at approximately $62,000. Lavaca Capital LLC acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $97,000. Sound Income Strategies LLC raised its holdings in shares of Alphabet by 71.4% during the fourth quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock valued at $100,000 after acquiring an additional 40 shares during the last quarter. Parkside Investments LLC acquired a new position in shares of Alphabet during the third quarter valued at approximately $124,000. Finally, ELM Advisors LLC acquired a new position in shares of Alphabet during the third quarter valued at approximately $128,000. Hedge funds and other institutional investors own 33.99% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, February 6th. Wedbush reissued an “outperform” rating and set a $1,350.00 target price on shares of Alphabet in a report on Tuesday, February 5th. William Blair reissued an “outperform” rating on shares of Alphabet in a report on Tuesday, February 5th. Finally, SunTrust Banks reduced their target price on Alphabet to $1,350.00 and set a “buy” rating for the company in a report on Tuesday, February 5th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $1,329.91.
Shares of Alphabet stock opened at $1,231.91 on Wednesday. The company has a market capitalization of $852.67 billion, a P/E ratio of 25.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,291.44. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping the consensus estimate of $11.08 by $1.69. The company had revenue of $31.84 billion during the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same period in the prior year, the business posted $9.70 earnings per share. Equities research analysts predict that Alphabet Inc will post 47.49 EPS for the current year.
Alphabet Company Profile
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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