Alphabet Inc. (GOOGL) Holdings Lifted by Homrich & Berg
Homrich & Berg grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,046 shares of the information services provider’s stock after purchasing an additional 229 shares during the quarter. Homrich & Berg’s holdings in Alphabet were worth $2,155,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of GOOGL. California Public Employees Retirement System raised its position in shares of Alphabet by 54.9% in the 4th quarter. California Public Employees Retirement System now owns 1,055,580 shares of the information services provider’s stock worth $1,111,948,000 after buying an additional 374,121 shares during the period. Edgewood Management LLC raised its position in shares of Alphabet by 32.2% in the 3rd quarter. Edgewood Management LLC now owns 1,120,023 shares of the information services provider’s stock worth $1,090,589,000 after buying an additional 272,851 shares during the period. Ruane Cunniff & Goldfarb Inc. raised its position in shares of Alphabet by 44.9% in the 3rd quarter. Ruane Cunniff & Goldfarb Inc. now owns 650,980 shares of the information services provider’s stock worth $633,872,000 after buying an additional 201,583 shares during the period. CI Global Investments Inc. raised its position in shares of Alphabet by 145.3% in the 3rd quarter. CI Global Investments Inc. now owns 267,946 shares of the information services provider’s stock worth $260,904,000 after buying an additional 158,732 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Alphabet by 13.8% in the 4th quarter. Bank of Montreal Can now owns 1,188,378 shares of the information services provider’s stock worth $1,251,837,000 after buying an additional 144,201 shares during the period. 34.38% of the stock is currently owned by institutional investors.
Shares of NASDAQ GOOGL opened at $1,081.26 on Friday. The company has a current ratio of 4.87, a quick ratio of 4.85 and a debt-to-equity ratio of 0.02. Alphabet Inc. has a 52-week low of $1,081.68 and a 52-week high of $1,094.22. The stock has a market capitalization of $753.38 billion, a price-to-earnings ratio of 31.69, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05.
Alphabet declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several analysts recently issued reports on the company. Wells Fargo reiterated a “buy” rating and issued a $1,275.00 price target on shares of Alphabet in a report on Friday, February 2nd. Oppenheimer increased their price target on Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a report on Friday, February 2nd. TheStreet upgraded Alphabet from a “c+” rating to an “a-” rating in a report on Monday, April 23rd. William Blair reiterated an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Finally, Aegis increased their price target on Alphabet from $1,350.00 to $1,360.00 and gave the company a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,201.44.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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