Goelzer Investment Management Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265 shares of the information services provider’s stock after purchasing an additional 24 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Alphabet were worth $768,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Advisor Resource Council grew its holdings in shares of Alphabet by 432.0% during the fourth quarter. Advisor Resource Council now owns 2,777 shares of the information services provider’s stock valued at $8,046,000 after purchasing an additional 2,255 shares during the last quarter. Blue Grotto Capital LLC grew its stake in Alphabet by 63.8% during the 4th quarter. Blue Grotto Capital LLC now owns 7,470 shares of the information services provider’s stock worth $21,641,000 after buying an additional 2,910 shares during the last quarter. CALIFORNIA FIRST LEASING Corp acquired a new stake in Alphabet in the fourth quarter worth $12,646,000. MAI Capital Management lifted its stake in Alphabet by 4.9% in the fourth quarter. MAI Capital Management now owns 29,927 shares of the information services provider’s stock valued at $86,701,000 after buying an additional 1,401 shares during the last quarter. Finally, QCM Cayman Ltd. bought a new stake in Alphabet in the fourth quarter valued at $333,000. 41.70% of the stock is owned by hedge funds and other institutional investors.
Alphabet stock traded down $3.14 during midday trading on Thursday, hitting $2,234.85. 29,672 shares of the stock were exchanged, compared to its average volume of 2,207,869. The stock has a market capitalization of $1.47 trillion, a PE ratio of 20.24, a P/E/G ratio of 1.07 and a beta of 1.13. The company has a fifty day simple moving average of $2,550.26 and a two-hundred day simple moving average of $2,720.05. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $2,196.49 and a 52 week high of $3,030.93.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the prior year, the firm posted $26.29 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 112.62 EPS for the current fiscal year.
In related news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the firm’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of Alphabet stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the purchase, the insider now owns 479,695 shares in the company, valued at approximately $16,621,431.75. The disclosure for this purchase can be found here. Insiders sold 550,261 shares of company stock valued at $21,637,779 over the last 90 days. Corporate insiders own 13.20% of the company’s stock.
Several brokerages have recently issued reports on GOOGL. MKM Partners reduced their price objective on Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Tigress Financial increased their price target on Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 18th. Sanford C. Bernstein raised their price target on Alphabet from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Wednesday, February 2nd. BMO Capital Markets reduced their price objective on shares of Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. Finally, Stifel Nicolaus dropped their price target on shares of Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Three equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $3,337.74.
Alphabet Profile (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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