Oak Grove Capital LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 573 shares of the information services provider’s stock, valued at approximately $604,000.
Several other large investors have also recently modified their holdings of the company. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Alphabet during the fourth quarter worth $108,000. Stuart Chaussee & Associates Inc. acquired a new position in Alphabet during the fourth quarter worth $123,000. Stelac Advisory Services LLC acquired a new position in Alphabet during the third quarter worth $126,000. Lee Financial Co boosted its stake in Alphabet by 500.0% during the fourth quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after buying an additional 100 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in Alphabet during the third quarter worth $137,000. 33.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. William Blair reissued 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. Canaccord Genuity reissued a “hold” rating on shares of Alphabet in a research note on Tuesday, April 24th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price objective on the stock in a research note on Monday, January 29th. Finally, Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,201.44.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.21 by $0.72. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The firm had revenue of $24.86 billion during the quarter, compared to analysts’ expectations of $24.20 billion. During the same period in the previous year, the firm posted $7.73 EPS. research analysts forecast that Alphabet Inc. will post 40.62 EPS for the current fiscal year.
Alphabet declared that its board has approved a stock 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. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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.
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