National Asset Management Inc. increased its position in Alphabet Inc (NASDAQ:GOOGL) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,068 shares of the information services provider’s stock after buying an additional 1,022 shares during the period. Alphabet accounts for approximately 1.0% of National Asset Management Inc.’s investment portfolio, making the stock its 18th biggest holding. National Asset Management Inc.’s holdings in Alphabet were worth $5,909,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Odey Holdings AG raised its holdings in shares of Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares during the period. Stelac Advisory Services LLC bought a new stake in Alphabet during the 3rd quarter valued at $126,000. Lloyds Banking Group plc bought a new stake in Alphabet during the 2nd quarter valued at $133,000. Farmers National Bank raised its holdings in Alphabet by 3.3% during the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after acquiring an additional 5 shares during the period. Finally, Hudock Capital Group LLC raised its holdings in Alphabet by 11.7% during the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 17 shares during the period. Institutional investors own 33.88% of the company’s stock.
A number of equities research analysts have issued reports on GOOGL shares. SunTrust Banks lowered their target price on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Argus boosted their target price on shares of Alphabet to $1,300.00 in a report on Monday, February 5th. Robert W. Baird restated a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a research report on Tuesday, January 2nd. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 price target for the company in a research report on Tuesday, December 26th. Finally, Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price target for the company in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,160.79.
Shares of Alphabet Inc (NASDAQ GOOGL) traded down $4.35 during trading hours on Wednesday, hitting $1,096.55. 189,604 shares of the stock traded hands, compared to its average volume of 2,048,465. The company has a market capitalization of $763,010.00, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 52-week low of $824.30 and a 52-week high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities research analysts expect that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet declared that its board has initiated a share buyback 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 repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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.