Gibraltar Capital Management Inc. bought a new position in shares of Alphabet Inc (NASDAQ:GOOGL) in the 4th quarter, Holdings Channel.com reports. The fund bought 160 shares of the information services provider’s stock, valued at approximately $214,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA boosted its holdings in Alphabet by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,674,322 shares of the information services provider’s stock valued at $3,265,722,000 after purchasing an additional 31,372 shares in the last quarter. Johanson Financial Advisors Inc. grew its position in shares of Alphabet by 129,857.5% in the 4th quarter. Johanson Financial Advisors Inc. now owns 2,622,543 shares of the information services provider’s stock valued at $1,958,000 after buying an additional 2,620,525 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Alphabet by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 1,469,383 shares of the information services provider’s stock valued at $1,794,323,000 after buying an additional 45,282 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Alphabet by 2.4% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,192,520 shares of the information services provider’s stock valued at $1,456,234,000 after buying an additional 27,942 shares during the last quarter. Finally, Veritas Asset Management LLP raised its stake in Alphabet by 4.4% during the 3rd quarter. Veritas Asset Management LLP now owns 1,073,876 shares of the information services provider’s stock worth $1,311,353,000 after acquiring an additional 44,900 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.
GOOGL has been the subject of a number of research reports. SunTrust Banks reissued a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a research report on Monday, October 28th. They noted that the move was a valuation call. Piper Jaffray Companies initiated coverage on Alphabet in a research report on Tuesday, December 3rd. They set an “overweight” rating and a $1,500.00 price target on the stock. Bank of America reiterated a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Raymond James reissued an “outperform” rating on shares of Alphabet in a report on Wednesday, October 30th. Finally, Barclays restated a “buy” rating and set a $1,400.00 target price on shares of Alphabet in a research report on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and forty have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $1,454.26.
GOOGL stock opened at $1,482.25 on Wednesday. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $1,377.16 and a 200-day simple moving average of $1,259.66. The company has a market capitalization of $1,020.40 billion, a P/E ratio of 31.81, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc has a twelve month low of $1,027.03 and a twelve month high of $1,480.55.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The company had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. During the same period in the prior year, the company earned $13.06 earnings per share. On average, research analysts predict that Alphabet Inc will post 49.03 EPS 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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