IFM Investors Pty Ltd boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,817 shares of the information services provider’s stock after buying an additional 4,171 shares during the quarter. Alphabet accounts for approximately 1.6% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 7th largest position. IFM Investors Pty Ltd’s holdings in Alphabet were worth $50,506,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GOOGL. Sageworth Trust Co boosted its position in shares of Alphabet by 900.0% in the 3rd quarter. Sageworth Trust Co now owns 20 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 18 shares during the period. Newfound Research LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $32,000. Magnolia Capital Advisors LLC boosted its position in shares of Alphabet by 41.0% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 437 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 127 shares during the period. Baron Financial Group LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $47,000. Finally, Carolina Wealth Advisors LLC boosted its position in shares of Alphabet by 71.4% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 36 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 15 shares during the period. 30.53% of the stock is owned by institutional investors and hedge funds.
GOOGL has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,643.00 price target for the company. in a research report on Tuesday, October 13th. The Goldman Sachs Group initiated coverage on Alphabet in a research note on Wednesday, December 23rd. They issued a “buy” rating and a $2,250.00 price objective for the company. KeyCorp increased their price objective on Alphabet from $1,955.00 to $1,970.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Robert W. Baird increased their price objective on Alphabet to $2,000.00 in a research note on Thursday, December 31st. Finally, Monness Crespi & Hardt increased their price objective on Alphabet from $1,700.00 to $2,000.00 and gave the stock a “buy” rating in a research note on Friday, October 30th. Three investment analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $1,818.29.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, November 3rd. The information services provider reported $16.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $11.35 by $5.05. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The company had revenue of $38.01 billion for the quarter, compared to analyst estimates of $35.36 billion. On average, sell-side analysts predict that Alphabet Inc. will post 51.54 EPS for the current year.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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