Ferris Capital LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 47.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,164 shares of the information services provider’s stock after purchasing an additional 376 shares during the quarter. Ferris Capital LLC’s holdings in Alphabet were worth $1,226,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Smith Salley & Associates bought a new position in Alphabet in the third quarter valued at $222,000. Fiduciary Trust Co. grew its position in Alphabet by 0.7% in the third quarter. Fiduciary Trust Co. now owns 37,470 shares of the information services provider’s stock valued at $36,486,000 after purchasing an additional 266 shares in the last quarter. Sandy Spring Bank grew its position in Alphabet by 5.1% in the third quarter. Sandy Spring Bank now owns 4,391 shares of the information services provider’s stock valued at $4,276,000 after purchasing an additional 212 shares in the last quarter. Princeton Capital Management Inc. grew its position in Alphabet by 30.6% in the third quarter. Princeton Capital Management Inc. now owns 9,314 shares of the information services provider’s stock valued at $9,069,000 after purchasing an additional 2,181 shares in the last quarter. Finally, Breton Hill Capital Ltd. grew its position in Alphabet by 59.3% in the third quarter. Breton Hill Capital Ltd. now owns 2,165 shares of the information services provider’s stock valued at $2,108,000 after purchasing an additional 806 shares in the last quarter. 34.38% of the stock is owned by institutional investors and hedge funds.
Alphabet opened at $1,081.26 on Friday, Marketbeat Ratings reports. Alphabet Inc. has a 52 week low of $1,081.68 and a 52 week high of $1,094.22. The stock has a market cap of $753.38 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.85 and a current ratio of 4.87.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.21 by $0.72. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. The business had revenue of $24.86 billion for the quarter, compared to analyst estimates of $24.20 billion. During the same period last year, the firm earned $7.73 earnings per share. equities research analysts anticipate that Alphabet Inc. will post 40.75 earnings per share for the current year.
Alphabet declared that its board has approved a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
GOOGL has been the subject of a number of analyst reports. Barclays raised their target price on shares of Alphabet from $1,260.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,192.20 price target for the company in a research note on Friday, March 23rd. B. Riley increased their price target on shares of Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Deutsche Bank reiterated a “buy” rating and issued a $1,400.00 price target on shares of Alphabet in a research note on Monday, January 29th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Alphabet in a research note on Tuesday, April 24th. Five investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $1,201.44.
Alphabet Company 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.
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.