Iron Financial LLC bought a new position in shares of Alphabet Inc (NASDAQ:GOOG) in the fourth quarter, HoldingsChannel reports. The fund bought 574 shares of the information services provider’s stock, valued at approximately $601,000.
Several other institutional investors have also added to or reduced their stakes in GOOG. Beach Investment Management LLC. purchased a new stake in shares of Alphabet in the second quarter valued at about $268,000. Atwood & Palmer Inc. lifted its position in Alphabet by 0.3% in the second quarter. Atwood & Palmer Inc. now owns 19,938 shares of the information services provider’s stock valued at $18,119,000 after buying an additional 65 shares during the last quarter. Newman Dignan & Sheerar Inc. lifted its position in Alphabet by 3.6% in the second quarter. Newman Dignan & Sheerar Inc. now owns 1,444 shares of the information services provider’s stock valued at $1,312,000 after buying an additional 50 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Alphabet in the second quarter valued at about $3,817,000. Finally, Bronfman E.L. Rothschild L.P. lifted its position in Alphabet by 4.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,055 shares of the information services provider’s stock valued at $2,776,000 after buying an additional 141 shares during the last quarter. 34.85% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on the stock. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,197.56 target price on the stock in a research report on Monday, March 26th. BidaskClub cut shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 21st. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, February 27th. TheStreet cut shares of Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus cut shares of 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $1,084.71.
Shares of GOOG opened at $1,031.79 on Monday. The stock has a market cap of $716,870.19, a PE ratio of 32.19 and a beta of 1.04. Alphabet Inc has a 1 year low of $817.02 and a 1 year high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.07 by ($0.37). The firm had revenue of $32.32 billion during the quarter, compared to analyst estimates of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The firm’s revenue was up 24.0% compared to the same quarter last year. During the same period last year, the business earned $9.36 EPS.
Alphabet announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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