Packer & Co Ltd Invests $21.61 Million in Alphabet Inc (GOOGL)

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Packer & Co Ltd acquired a new stake in shares of Alphabet Inc (NASDAQ:GOOGL) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 20,675 shares of the information services provider’s stock, valued at approximately $21,605,000. Alphabet makes up approximately 2.7% of Packer & Co Ltd’s holdings, making the stock its 20th largest position.

Several other institutional investors also recently bought and sold shares of GOOGL. BlackRock Inc. grew its holdings in Alphabet by 0.7% in the 2nd quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock worth $21,297,919,000 after acquiring an additional 128,040 shares during the last quarter. FMR LLC grew its holdings in Alphabet by 5.5% in the 3rd quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock worth $19,837,909,000 after acquiring an additional 858,589 shares during the last quarter. Northern Trust Corp grew its holdings in Alphabet by 0.8% in the 2nd quarter. Northern Trust Corp now owns 3,677,525 shares of the information services provider’s stock worth $4,152,625,000 after acquiring an additional 28,375 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Alphabet by 118,334.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock worth $3,968,570,000 after acquiring an additional 3,284,967 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Alphabet by 10.4% in the 3rd quarter. Jennison Associates LLC now owns 1,922,845 shares of the information services provider’s stock worth $2,321,028,000 after acquiring an additional 181,916 shares during the last quarter. Hedge funds and other institutional investors own 42.38% of the company’s stock.

A number of equities research analysts have recently weighed in on GOOGL shares. Canaccord Genuity raised shares of Alphabet from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,140.00 to $1,250.00 in a research note on Thursday, January 3rd. Jefferies Financial Group set a $1,200.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Thursday, December 20th. Guggenheim started coverage on shares of Alphabet in a research note on Thursday, December 6th. They set a “buy” rating and a $1,330.00 target price on the stock. Nomura reaffirmed a “buy” rating and set a $1,400.00 target price on shares of Alphabet in a research note on Tuesday, December 4th. Finally, ValuEngine raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,314.86.

Shares of Alphabet stock opened at $1,236.13 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.89. The stock has a market capitalization of $852.60 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.48 and a beta of 1.05. Alphabet Inc has a 52-week low of $977.66 and a 52-week high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping analysts’ consensus estimates of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The firm had revenue of $31.84 billion during the quarter, compared to analyst estimates of $31.28 billion. During the same period in the previous year, the business posted $9.70 earnings per share. As a group, research analysts predict that Alphabet Inc will post 47.4 EPS for the current year.

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Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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