Gateway Investment Advisers LLC boosted its position in Alphabet Inc (NASDAQ:GOOG) by 42.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,161 shares of the information services provider’s stock after buying an additional 64,007 shares during the quarter. Alphabet makes up approximately 1.9% of Gateway Investment Advisers LLC’s portfolio, making the stock its 6th biggest position. Gateway Investment Advisers LLC’s holdings in Alphabet were worth $226,191,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Alphabet by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after purchasing an additional 589,654 shares during the last quarter. BlackRock Inc. lifted its position in Alphabet by 4.8% in the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the last quarter. FMR LLC lifted its position in Alphabet by 0.4% in the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after purchasing an additional 62,507 shares during the last quarter. Capital World Investors lifted its position in Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in Alphabet by 3.2% in the second quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock valued at $4,528,593,000 after purchasing an additional 155,151 shares during the last quarter. 34.86% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. Vetr downgraded Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price objective for the company. in a research report on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. SunTrust Banks boosted their price objective on Alphabet to $1,250.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, UBS Group reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,072.37.
Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,164.50 on Tuesday. The firm has a market capitalization of $805,976.13, a price-to-earnings ratio of 64.84 and a beta of 1.04. Alphabet Inc has a 12 month low of $803.37 and a 12 month high of $1,186.89. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion during the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. Alphabet’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the company earned $9.36 earnings per share.
Alphabet announced that its Board of Directors has authorized a stock buyback program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Alphabet Company Profile
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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