Financial Consulate Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, HoldingsChannel reports. The fund acquired 206 shares of the information services provider’s stock, valued at approximately $217,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Beach Investment Management LLC. raised its position in Alphabet by 899.9% in the 2nd quarter. Beach Investment Management LLC. now owns 25,498 shares of the information services provider’s stock worth $23,705,000 after purchasing an additional 22,948 shares during the period. Girard Partners LTD. boosted its stake in shares of Alphabet by 8.1% during the second quarter. Girard Partners LTD. now owns 4,897 shares of the information services provider’s stock valued at $4,553,000 after purchasing an additional 369 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its stake in shares of Alphabet by 31.8% during the second quarter. OMERS ADMINISTRATION Corp now owns 155,520 shares of the information services provider’s stock valued at $144,584,000 after purchasing an additional 37,480 shares in the last quarter. Davidson & Garrard Inc. boosted its stake in shares of Alphabet by 6.7% during the second quarter. Davidson & Garrard Inc. now owns 4,356 shares of the information services provider’s stock valued at $4,050,000 after purchasing an additional 274 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its stake in shares of Alphabet by 2.4% during the second quarter. Mirador Capital Partners LP now owns 3,038 shares of the information services provider’s stock valued at $2,873,000 after purchasing an additional 71 shares in the last quarter. 34.38% of the stock is owned by institutional investors and hedge funds.
NASDAQ GOOGL opened at $1,009.95 on Friday. The firm has a market capitalization of $717,460.75, a price-to-earnings ratio of 31.51, a P/E/G ratio of 1.10 and a beta of 1.05. Alphabet Inc. has a 12-month low of $834.60 and a 12-month 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.
Alphabet declared that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,136.00 price objective on the stock in a research note on Tuesday, April 3rd. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective on the stock. in a research note on Friday, February 2nd. Aegis restated a “buy” rating and issued a $1,350.00 target price on shares of Alphabet in a research note on Sunday, February 4th. Finally, MKM Partners restated a “buy” rating and issued a $1,355.00 target price (up from $1,210.00) on shares of Alphabet in a research note on Wednesday, February 21st. 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 given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,180.20.
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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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