Marco Investment Management LLC Acquires 118 Shares of Alphabet Inc (GOOGL)
Marco Investment Management LLC grew its holdings in Alphabet Inc (NASDAQ:GOOGL) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,781 shares of the information services provider’s stock after buying an additional 118 shares during the period. Marco Investment Management LLC’s holdings in Alphabet were worth $3,682,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Neuberger Berman Group LLC raised its position in shares of Alphabet by 1.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 526,552 shares of the information services provider’s stock valued at $512,714,000 after purchasing an additional 6,612 shares during the period. Guardian Capital LP raised its position in shares of Alphabet by 6.4% during the 3rd quarter. Guardian Capital LP now owns 21,034 shares of the information services provider’s stock valued at $20,481,000 after purchasing an additional 1,271 shares during the period. Griffin Asset Management Inc. raised its position in shares of Alphabet by 261.8% during the 3rd quarter. Griffin Asset Management Inc. now owns 1,581 shares of the information services provider’s stock valued at $1,539,000 after purchasing an additional 1,144 shares during the period. Alkeon Capital Management LLC raised its position in shares of Alphabet by 0.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 284,112 shares of the information services provider’s stock valued at $276,645,000 after purchasing an additional 900 shares during the period. Finally, South Street Advisors LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $7,373,000. Institutional investors and hedge funds own 33.29% of the company’s stock.
Several brokerages have recently commented on GOOGL. William Blair restated an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,241.78 price objective on the stock in a research report on Thursday. MKM Partners reiterated a “buy” rating and issued a $1,355.00 price target (up from $1,210.00) on shares of Alphabet in a report on Wednesday, February 21st. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target on the stock. in a report on Friday, February 2nd. Finally, Aegis reiterated a “buy” rating and issued a $1,350.00 price target on shares of Alphabet in a report on Sunday, February 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average target price of $1,161.00.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. analysts predict that Alphabet Inc will post 42.52 earnings per share for the current year.
Alphabet declared that its board has approved a share repurchase 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. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Alphabet Company Profile
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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