Daiwa SB Investments Ltd. boosted its holdings in Alphabet Inc (NASDAQ:GOOGL) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,330 shares of the information services provider’s stock after buying an additional 70 shares during the period. Daiwa SB Investments Ltd.’s holdings in Alphabet were worth $1,401,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Odey Holdings AG lifted its stake in shares of Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at about $126,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at about $137,000. Farmers National Bank lifted its stake in shares of Alphabet by 3.3% in the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after purchasing an additional 5 shares in the last quarter. Finally, Hudock Capital Group LLC lifted its stake in shares of Alphabet by 11.7% in the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 17 shares in the last quarter. 34.38% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price objective on the stock in a research note on Monday, February 5th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective on the stock. in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $1,285.00 price objective on shares of Alphabet in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,167.67.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. sell-side analysts predict that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally 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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