Xact Kapitalforvaltning AB increased its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,192 shares of the information services provider’s stock after acquiring an additional 1,245 shares during the quarter. Alphabet comprises approximately 1.5% of Xact Kapitalforvaltning AB’s holdings, making the stock its 7th largest holding. Xact Kapitalforvaltning AB’s holdings in Alphabet were worth $57,673,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Vestor Capital LLC acquired a new stake in Alphabet during the third quarter worth $62,000. Lavaca Capital LLC acquired a new stake in Alphabet during the fourth quarter worth $97,000. Sound Income Strategies LLC boosted its stake in Alphabet by 71.4% during the fourth quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock worth $100,000 after buying an additional 40 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Alphabet during the fourth quarter worth $103,000. Finally, CX Institutional boosted its stake in Alphabet by 93.1% during the fourth quarter. CX Institutional now owns 112 shares of the information services provider’s stock worth $117,000 after buying an additional 54 shares in the last quarter. 34.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of GOOGL stock opened at $1,170.80 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The stock has a market capitalization of $789.07 billion, a PE ratio of 24.64, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc has a one year low of $977.66 and a one year high of $1,296.97.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating analysts’ consensus estimates of $10.56 by $1.34. The company had revenue of $29.48 billion during the quarter, compared to analysts’ expectations of $29.99 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. During the same period in the prior year, the business posted $13.33 EPS. As a group, sell-side analysts expect that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on the stock. SunTrust Banks reduced their target price on shares of Alphabet to $1,350.00 and set a “buy” rating on the stock in a research note on Tuesday, February 5th. They noted that the move was a valuation call. Deutsche Bank restated a “buy” rating and issued a $1,300.00 target price on shares of Alphabet in a research note on Wednesday, January 23rd. Needham & Company LLC assumed coverage on shares of Alphabet in a research note on Monday, March 4th. They issued a “buy” rating and a $1,153.42 target price on the stock. Wells Fargo & Co set a $1,300.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Tuesday, February 5th. Finally, Royal Bank of Canada reduced their target price on shares of Alphabet to $1,300.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 5th. Five investment analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,328.88.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
Further Reading: Gross Domestic Product (GDP)
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.