United Income Inc. bought a new stake in Alphabet Inc (NASDAQ:GOOGL) in the fourth quarter, Holdings Channel reports. The fund bought 343 shares of the information services provider’s stock, valued at approximately $358,000.
Other large investors have also bought and sold shares of the company. Vestor Capital LLC acquired a new position in shares of Alphabet during the third quarter worth about $62,000. Lavaca Capital LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $97,000. Sound Income Strategies LLC boosted its position 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 worth $100,000 after buying an additional 40 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $103,000. Finally, CX Institutional boosted its position in shares of Alphabet by 93.1% during the fourth quarter. CX Institutional now owns 112 shares of the information services provider’s stock worth $117,000 after buying an additional 54 shares during the period. 33.56% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on GOOGL. Nomura reduced their price objective on Alphabet from $1,310.00 to $1,300.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price on the stock. in a report on Tuesday, April 30th. JMP Securities reiterated an “outperform” rating and set a $1,375.00 target price (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, April 30th. Morgan Stanley dropped their target price on Alphabet from $1,500.00 to $1,425.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their target price on Alphabet from $1,100.00 to $1,200.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,328.88.
Shares of NASDAQ GOOGL opened at $1,147.89 on Friday. The company has a market cap of $801.46 billion, a PE ratio of 24.16, a PEG ratio of 1.36 and a beta of 1.03. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.93 and a current ratio of 3.96.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $10.56 by $1.34. The business had revenue of $29.48 billion for the quarter, compared to the consensus estimate of $29.99 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. During the same quarter in the prior year, the business posted $13.33 earnings per share. Equities research analysts predict that Alphabet Inc will post 48.44 earnings per share for the current year.
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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