Montrusco Bolton Investments Inc. lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 33.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 16,930 shares of the information services provider’s stock after selling 8,370 shares during the period. Alphabet makes up approximately 1.0% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 24th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Alphabet were worth $17,804,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Independence Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $680,000. Indiana Trust & Investment Management CO boosted its stake in shares of Alphabet by 2.9% in the 4th quarter. Indiana Trust & Investment Management CO now owns 3,022 shares of the information services provider’s stock worth $3,183,000 after buying an additional 84 shares during the last quarter. Daiwa SB Investments Ltd. boosted its stake in shares of Alphabet by 5.6% in the 4th quarter. Daiwa SB Investments Ltd. now owns 1,330 shares of the information services provider’s stock worth $1,401,000 after buying an additional 70 shares during the last quarter. CHURCHILL MANAGEMENT Corp boosted its stake in shares of Alphabet by 10.7% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 25,005 shares of the information services provider’s stock worth $26,341,000 after buying an additional 2,416 shares during the last quarter. Finally, Milestone Resources Group Ltd purchased a new position in shares of Alphabet in the 4th quarter worth approximately $99,615,000. Institutional investors and hedge funds own 34.38% of the company’s stock.
A number of equities analysts have recently weighed in on GOOGL shares. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 target price on the stock in a research note on Monday, December 4th. Evercore ISI started coverage on shares of Alphabet in a report on Tuesday, December 5th. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price target on the stock in a report on Tuesday, December 26th. Robert W. Baird reaffirmed a “buy” rating and issued a $1,150.00 price target on shares of Alphabet in a report on Tuesday, January 2nd. Finally, Cowen lifted their price target on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $1,167.67.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. sell-side analysts anticipate that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet declared that its Board of Directors has initiated a stock repurchase program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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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