National Planning Corp lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 10.3% during the third quarter, HoldingsChannel.com reports. The firm owned 5,683 shares of the information services provider’s stock after selling 654 shares during the period. Alphabet comprises 1.1% of National Planning Corp’s portfolio, making the stock its 14th largest holding. National Planning Corp’s holdings in Alphabet were worth $5,524,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Odey Holdings AG lifted its position in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the period. Stelac Advisory Services LLC acquired a new position in Alphabet during the third quarter worth $126,000. Lloyds Banking Group plc acquired a new position in Alphabet during the second quarter worth $133,000. Farmers National Bank raised its holdings in Alphabet by 3.3% during the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after buying an additional 5 shares during the last quarter. Finally, Hudock Capital Group LLC raised its holdings in Alphabet by 11.7% during the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 33.29% of the company’s stock.
Several research firms have weighed in on GOOGL. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price objective on the stock in a report on Monday, January 29th. Deutsche Bank restated a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley restated an “overweight” rating and set a $1,215.00 price objective (up previously from $1,210.00) on shares of Alphabet in a report on Friday, January 26th. Monness Crespi & Hardt restated a “buy” rating and set a $1,250.00 price objective (up previously from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 price objective on the stock in a report on Monday, January 29th. One equities research 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 given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $1,157.02.
Alphabet Inc (GOOGL) opened at $1,095.50 on Tuesday. The firm has a market cap of $761,134.81, a PE ratio of 61.00, a P/E/G ratio of 1.13 and a beta of 0.94. 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 1 year low of $824.30 and a 1 year high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 $10.12 by ($0.42). The company 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 analysts forecast that Alphabet Inc will post 42.52 EPS for the current year.
Alphabet declared that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board 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.
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