Train Babcock Advisors LLC cut its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,001 shares of the information services provider’s stock after selling 386 shares during the period. Alphabet accounts for approximately 1.9% of Train Babcock Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Train Babcock Advisors LLC’s holdings in Alphabet were worth $4,215,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of GOOGL. Koch Industries Inc. increased its position in shares of Alphabet by 181,219.4% during the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 1,085,504 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares in the last quarter. BlackRock Inc. increased its position in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares in the last quarter. FMR LLC increased its position in shares of Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares during the period. Finally, State of Wisconsin Investment Board increased its position in shares of Alphabet by 68.2% in the 3rd quarter. State of Wisconsin Investment Board now owns 708,458 shares of the information services provider’s stock valued at $689,840,000 after acquiring an additional 287,287 shares during the period. 33.88% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on GOOGL. William Blair reissued an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. MKM Partners reissued a “buy” rating and issued a $1,355.00 target price (up from $1,210.00) on shares of Alphabet in a research report on Wednesday, February 21st. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,241.78 target price on the stock in a research report on Thursday, March 1st. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a research report on Friday, February 2nd. Finally, Aegis reissued a “buy” rating and issued a $1,350.00 target price on shares of Alphabet in a research report on Sunday, February 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $1,160.79.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities analysts anticipate that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet declared that its Board of Directors has authorized a share 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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Alphabet Company Profile
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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