Boston Research & Management Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,125 shares of the information services provider’s stock after selling 105 shares during the quarter. Alphabet accounts for 1.7% of Boston Research & Management Inc.’s portfolio, making the stock its 28th biggest position. Boston Research & Management Inc.’s holdings in Alphabet were worth $3,291,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. California Public Employees Retirement System lifted its holdings in shares of Alphabet by 54.9% during the fourth 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 purchasing an additional 374,121 shares during the period. Edgewood Management LLC lifted its holdings in shares of Alphabet by 32.2% during the third quarter. Edgewood Management LLC now owns 1,120,023 shares of the information services provider’s stock worth $1,090,589,000 after purchasing an additional 272,851 shares during the period. Ruane Cunniff & Goldfarb Inc. lifted its holdings in shares of Alphabet by 44.9% during the third quarter. Ruane Cunniff & Goldfarb Inc. now owns 650,980 shares of the information services provider’s stock worth $633,872,000 after purchasing an additional 201,583 shares during the period. CI Global Investments Inc. lifted its holdings in shares of Alphabet by 145.3% during the third quarter. CI Global Investments Inc. now owns 267,946 shares of the information services provider’s stock worth $260,904,000 after purchasing an additional 158,732 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Alphabet by 13.8% during the fourth quarter. Bank of Montreal Can now owns 1,188,378 shares of the information services provider’s stock worth $1,251,837,000 after purchasing an additional 144,201 shares during the period. 34.38% of the stock is owned by hedge funds and other institutional investors.

Shares of GOOGL opened at $1,084.09 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. Alphabet Inc. has a one year low of $1,081.68 and a one year high of $1,094.22. The company has a market cap of $769.03 billion, a P/E ratio of 33.82, a PEG ratio of 1.58 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $9.21 by $0.72. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The firm had revenue of $24.86 billion during the quarter, compared to analysts’ expectations of $24.20 billion. During the same period in the previous year, the business earned $7.73 earnings per share. equities analysts predict that Alphabet Inc. will post 40.75 EPS for the current year.

Alphabet announced that its Board of Directors has approved a stock buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Several brokerages recently weighed in on GOOGL. Wells Fargo reiterated a “buy” rating and set a $1,275.00 price target on shares of Alphabet in a research report on Friday, February 2nd. Oppenheimer lifted their price target on Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. TheStreet upgraded Alphabet from a “c+” rating to an “a-” rating in a research report on Monday, April 23rd. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $1,285.00 price target on shares of Alphabet in a research report on Friday, February 2nd. Five 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 stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,201.19.

Alphabet Company Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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