Partnervest Advisory Services LLC increased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 20.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 498 shares of the information services provider’s stock after purchasing an additional 85 shares during the quarter. Partnervest Advisory Services LLC’s holdings in Alphabet were worth $525,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bredin Investment LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $349,000. Segment Wealth Management LLC lifted its stake in shares of Alphabet by 15.9% in the 4th quarter. Segment Wealth Management LLC now owns 409 shares of the information services provider’s stock valued at $431,000 after purchasing an additional 56 shares during the last quarter. LaFleur & Godfrey LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $202,000. Forte Capital LLC ADV lifted its stake in shares of Alphabet by 15.1% in the 4th quarter. Forte Capital LLC ADV now owns 3,891 shares of the information services provider’s stock valued at $4,098,000 after purchasing an additional 509 shares during the last quarter. Finally, Cornerstone Investment Partners LLC lifted its stake in shares of Alphabet by 101.9% in the 4th quarter. Cornerstone Investment Partners LLC now owns 182,142 shares of the information services provider’s stock valued at $191,868,000 after purchasing an additional 91,949 shares during the last quarter. Institutional investors and hedge funds own 34.38% of the company’s stock.
Alphabet Inc (NASDAQ:GOOGL) opened at $1,026.55 on Monday. Alphabet Inc has a one year low of $824.30 and a one year high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The firm has a market capitalization of $713,229.56, a price-to-earnings ratio of 57.16, a P/E/G ratio of 1.10 and a beta of 0.99.
Alphabet declared that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
GOOGL has been the subject of several analyst reports. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 price objective for the company in a research note on Monday, December 4th. Evercore ISI initiated coverage on Alphabet in a research note on Tuesday, December 5th. They issued an “outperform” rating for the company. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research note on Tuesday, December 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research note on Tuesday, January 2nd. Finally, Cowen raised their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,166.73.
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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