Parker Investment Management LLC decreased its position in Alphabet Inc (NASDAQ:GOOGL) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,734 shares of the information services provider’s stock after selling 51 shares during the quarter. Alphabet accounts for 6.4% of Parker Investment Management LLC’s portfolio, making the stock its 7th largest position. Parker Investment Management LLC’s holdings in Alphabet were worth $17,627,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Indiana Trust & Investment Management CO lifted its position in Alphabet by 2.9% in the fourth quarter. Indiana Trust & Investment Management CO now owns 3,022 shares of the information services provider’s stock valued at $3,183,000 after purchasing an additional 84 shares during the last quarter. Daiwa SB Investments Ltd. lifted its position in Alphabet by 5.6% in the fourth quarter. Daiwa SB Investments Ltd. now owns 1,330 shares of the information services provider’s stock valued at $1,401,000 after purchasing an additional 70 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in Alphabet by 10.7% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 25,005 shares of the information services provider’s stock valued at $26,341,000 after purchasing an additional 2,416 shares during the last quarter. Milestone Resources Group Ltd bought a new stake in Alphabet in the fourth quarter valued at approximately $99,615,000. Finally, Sawyer & Company Inc bought a new stake in Alphabet in the fourth quarter valued at approximately $1,372,000. Institutional investors own 34.38% of the company’s stock.
Several brokerages have weighed in on GOOGL. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,232.76 price objective for the company. in a research report on Tuesday, March 6th. MKM Partners reiterated a “buy” rating and issued a $1,355.00 price objective (up previously from $1,210.00) on shares of Alphabet in a research report on Wednesday, February 21st. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Argus boosted their price objective on Alphabet to $1,300.00 in a research report on Monday, February 5th. Finally, Aegis reissued a “buy” rating and set a $1,350.00 target price on shares of Alphabet in a research note on Sunday, February 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Alphabet has an average rating of “Buy” and an average price target of $1,167.67.
Alphabet (NASDAQ:GOOGL) 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 $10.12 by ($0.42). The firm had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. analysts predict that Alphabet Inc will post 42.52 EPS for the current year.
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 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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