Scharf Investments LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 93.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288 shares of the information services provider’s stock after buying an additional 139 shares during the quarter. Scharf Investments LLC’s holdings in Alphabet were worth $594,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. FMR LLC grew its stake in shares of Alphabet by 0.9% in the 4th quarter. FMR LLC now owns 12,724,980 shares of the information services provider’s stock valued at $22,302,309,000 after buying an additional 112,807 shares during the period. Itau Unibanco Holding S.A. boosted its position in Alphabet by 44,364.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,551,846 shares of the information services provider’s stock valued at $25,169,000 after buying an additional 7,534,862 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 6.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,183,875 shares of the information services provider’s stock valued at $12,590,747,000 after buying an additional 447,141 shares during the period. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at about $9,523,211,000. Finally, Morgan Stanley boosted its position in Alphabet by 27.1% during the fourth quarter. Morgan Stanley now owns 3,271,179 shares of the information services provider’s stock valued at $5,733,202,000 after buying an additional 697,236 shares during the period. 33.79% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on GOOGL shares. Credit Suisse Group raised their target price on shares of Alphabet from $2,000.00 to $2,360.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. The Goldman Sachs Group raised their price objective on shares of Alphabet from $2,250.00 to $2,550.00 and gave the company a “buy” rating in a research report on Wednesday, February 3rd. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Wolfe Research began coverage on shares of Alphabet in a research report on Thursday, April 1st. They set an “outperform” rating and a $2,450.00 price objective on the stock. Finally, Canaccord Genuity restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. One equities research analyst has rated the stock with a hold rating and forty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $2,151.57.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, beating the Zacks’ consensus estimate of $15.90 by $6.40. The firm had revenue of $46.43 billion for the quarter, compared to the consensus estimate of $44.09 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. During the same period last year, the firm posted $15.35 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 52.19 EPS for the current year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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