Alphabet Inc (GOOG) Position Increased by QUANTRES ASSET MANAGEMENT Ltd
QUANTRES ASSET MANAGEMENT Ltd boosted its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 22.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,100 shares of the information services provider’s stock after purchasing an additional 200 shares during the quarter. QUANTRES ASSET MANAGEMENT Ltd’s holdings in Alphabet were worth $1,151,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also made changes to their positions in GOOG. Janus Henderson Group PLC boosted its stake in Alphabet by 759.0% during the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after purchasing an additional 2,831,099 shares during the period. Koch Industries Inc. lifted its position in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after acquiring an additional 1,161,184 shares during the period. BlackRock Inc. lifted its position in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after acquiring an additional 826,480 shares during the period. Capital World Investors lifted its position in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after acquiring an additional 776,853 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after acquiring an additional 589,654 shares during the period. Hedge funds and other institutional investors own 34.51% of the company’s stock.
A number of analysts have commented on the company. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,131.91 price objective for the company in a research report on Thursday. BidaskClub upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 28th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, February 27th. TheStreet downgraded Alphabet from an “a” rating to a “c+” rating in a research report on Thursday, February 1st. Finally, Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective for the company. in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,066.64.
Shares of Alphabet Inc (NASDAQ GOOG) opened at $1,078.92 on Monday. Alphabet Inc has a twelve month low of $803.37 and a twelve month high of $1,186.89. The firm has a market capitalization of $749,615.31, a price-to-earnings ratio of 33.71 and a beta of 1.04. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $32.32 billion for the quarter, compared to analyst estimates of $31.88 billion. During the same period in the prior year, the business earned $9.36 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis.
Alphabet announced that its board has approved a stock buyback plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board 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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