Capital International Investors boosted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.2% in the third quarter, Holdings Channel reports. The fund owned 274,266 shares of the information services provider’s stock after purchasing an additional 499 shares during the quarter. Capital International Investors’ holdings in Alphabet were worth $267,058,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Odey Holdings AG raised its holdings in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in shares of Alphabet in the third quarter worth $126,000. Lloyds Banking Group plc purchased a new position in shares of Alphabet in the second quarter worth $133,000. Farmers National Bank raised its holdings in shares of Alphabet by 3.3% in the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after buying an additional 5 shares during the last quarter. Finally, Hudock Capital Group LLC raised its holdings in shares of Alphabet by 11.7% in the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after buying an additional 17 shares during the last quarter. 33.29% of the stock is owned by institutional investors.
A number of research analysts have issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. MKM Partners reaffirmed a “buy” rating and issued a $1,355.00 price target (up previously from $1,210.00) on shares of Alphabet in a report on Wednesday, February 21st. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a report on Friday, February 2nd. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price target for the company in a report on Monday, February 5th. Finally, Aegis reaffirmed a “buy” rating and issued a $1,350.00 price target on shares of Alphabet in a report on Sunday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,161.00.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. equities analysts expect that Alphabet Inc will post 42.52 EPS for the current year.
Alphabet announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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