MAI Capital Management Boosts Position in Alphabet Inc. (GOOGL)

MAI Capital Management increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,149 shares of the information services provider’s stock after buying an additional 845 shares during the quarter. MAI Capital Management’s holdings in Alphabet were worth $6,477,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Koch Industries Inc. raised its stake in shares of Alphabet by 181,219.4% in 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 during the last quarter. Vanguard Group Inc. grew its holdings in shares of Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. FMR LLC grew its holdings in shares of Alphabet by 2.1% in the second 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 in the last quarter. Finally, State of Wisconsin Investment Board grew its holdings in shares of Alphabet by 68.2% in the third 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 in the last quarter. 34.38% of the stock is currently owned by institutional investors and hedge funds.

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Alphabet stock opened at $1,009.95 on Friday. Alphabet Inc. has a one year low of $834.60 and a one year high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The firm has a market capitalization of $717,460.75, a PE ratio of 31.51, a P/E/G ratio of 1.10 and a beta of 1.05.

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 the Zacks’ consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. analysts anticipate that Alphabet Inc. will post 41.21 EPS for the current fiscal year.

Alphabet declared that its board has approved a share buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several equities analysts have recently issued reports on the company. Wells Fargo reaffirmed a “buy” rating and issued a $1,275.00 target price on shares of Alphabet in a report on Friday, February 2nd. Cowen upped their target price on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Oppenheimer upped their target price on Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a report on Friday, February 2nd. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a report on Friday, January 12th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $1,180.20.

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About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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