Argent Trust Co raised its holdings in Alphabet Inc (NASDAQ:GOOGL) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,271 shares of the information services provider’s stock after buying an additional 239 shares during the period. Alphabet accounts for about 1.1% of Argent Trust Co’s portfolio, making the stock its 9th largest holding. Argent Trust Co’s holdings in Alphabet were worth $4,159,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Novare Capital Management LLC lifted its holdings in shares of Alphabet by 0.9% during the 2nd quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock worth $7,986,000 after acquiring an additional 80 shares during the period. Camelot Portfolios LLC bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $211,000. Gardiner Nancy B increased its position in Alphabet by 5.4% during the 3rd quarter. Gardiner Nancy B now owns 1,450 shares of the information services provider’s stock worth $1,412,000 after purchasing an additional 74 shares in the last quarter. Anchor Capital Advisors LLC increased its position in Alphabet by 3.0% during the 2nd quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock worth $351,000 after purchasing an additional 11 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Alphabet by 4.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,038,084 shares of the information services provider’s stock worth $965,086,000 after purchasing an additional 43,543 shares in the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.
Several brokerages have issued reports on GOOGL. Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,232.76 price target for the company. in a research report on Tuesday, March 6th. MKM Partners reaffirmed a “buy” rating and issued a $1,355.00 price objective (up from $1,210.00) on shares of Alphabet in a research note on Wednesday, February 21st. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Argus increased their target price on shares of Alphabet to $1,300.00 in a research note on Monday, February 5th. Finally, Aegis reissued a “buy” rating and set a $1,350.00 target price on shares of Alphabet in a research note on Sunday, February 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,167.67.
Shares of Alphabet Inc (GOOGL) traded up $8.98 during mid-day trading on Wednesday, hitting $1,148.89. 2,092,844 shares of the stock were exchanged, compared to its average volume of 2,420,000. Alphabet Inc has a 1 year low of $824.30 and a 1 year high of $1,198.00. The company has a market cap of $797,790.00, a PE ratio of 35.79, a PEG ratio of 1.21 and a beta of 0.99. 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:GOOGL) last announced its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The business 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 research analysts expect that Alphabet Inc will post 42.52 earnings per share for the current year.
Alphabet declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization permits the information services provider to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is 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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