Family Legacy Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 898 shares of the information services provider’s stock, valued at approximately $946,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kovack Advisors Inc. acquired a new position in Alphabet during the 4th quarter valued at about $4,838,000. Peregrine Asset Advisers Inc. boosted its stake in Alphabet by 4.1% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 2,483 shares of the information services provider’s stock valued at $2,615,000 after purchasing an additional 97 shares during the last quarter. Hendley & Co. Inc. acquired a new position in Alphabet during the 4th quarter valued at about $1,656,000. Picton Mahoney Asset Management boosted its stake in Alphabet by 52.2% during the 4th quarter. Picton Mahoney Asset Management now owns 25,655 shares of the information services provider’s stock valued at $27,026,000 after purchasing an additional 8,800 shares during the last quarter. Finally, Arlington Financial Advisors LLC acquired a new position in Alphabet during the 4th quarter valued at about $1,475,000. Institutional investors own 34.38% of the company’s stock.
A number of research firms have issued reports on GOOGL. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,156.80 price target for the company. in a research note on Monday. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “sell” rating in a research note on Wednesday, April 11th. MED began coverage on Alphabet in a research note on Wednesday, April 11th. They set a “buy” rating and a $1,036.50 price target for the company. Monness Crespi & Hardt began coverage on Alphabet in a research note on Wednesday, April 11th. They set a “buy” rating and a $1,280.00 price target for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,175.00 price target (down previously from $1,200.00) on shares of Alphabet in a research note on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,172.65.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). The company had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. sell-side analysts expect that Alphabet Inc. will post 41.18 EPS for the current year.
Alphabet declared that its board has authorized a share repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
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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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