Milestone Resources Group Ltd acquired a new stake in shares of Alphabet Inc (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 94,565 shares of the information services provider’s stock, valued at approximately $99,615,000. Alphabet comprises about 12.5% of Milestone Resources Group Ltd’s holdings, making the stock its 2nd largest holding.
Several other large investors have also made changes to their positions in the stock. Stelac Advisory Services LLC bought a new position in Alphabet in the 3rd quarter worth about $126,000. Odey Holdings AG grew its position in Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in Alphabet in the 3rd quarter worth about $137,000. Farmers National Bank grew its position in Alphabet by 3.3% in the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after purchasing an additional 5 shares during the last quarter. Finally, Hudock Capital Group LLC grew its position in Alphabet by 11.7% in the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after purchasing an additional 17 shares during the last quarter. 34.38% of the stock is owned by institutional investors and hedge funds.
Several research analysts have commented on GOOGL shares. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price for the company in a research report on Tuesday, December 26th. SunTrust Banks decreased their target price on shares of Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Monness Crespi & Hardt restated a “buy” rating and issued a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Cowen upped their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 target price for the company in a research report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,167.67.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. equities analysts predict that Alphabet Inc will post 42.52 EPS for the current year.
Alphabet announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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