Telemark Asset Management LLC continued to hold its position in shares of Alphabet Inc (NASDAQ:GOOGL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the information services provider’s stock at the end of the fourth quarter. Alphabet accounts for 3.5% of Telemark Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Telemark Asset Management LLC’s holdings in Alphabet were worth $15,849,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cedar Wealth Management LLC raised its stake in Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the information services provider’s stock worth $103,000 after buying an additional 7 shares during the last quarter. First Command Bank acquired a new stake in Alphabet during the fourth quarter worth $123,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Alphabet during the fourth quarter worth $127,000. Tarbox Group Inc. raised its stake in Alphabet by 1.9% in the third quarter. Tarbox Group Inc. now owns 163 shares of the information services provider’s stock valued at $131,000 after buying an additional 3 shares in the last quarter. Finally, Fusion Family Wealth LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 34.98% of the company’s stock.
Alphabet Inc (NASDAQ:GOOGL) traded down 0.03% during mid-day trading on Friday, reaching $859.78. 962,464 shares of the company traded hands. The stock has a market capitalization of $594.47 billion, a PE ratio of 30.84 and a beta of 0.98. The firm’s 50-day moving average is $851.85 and its 200 day moving average is $822.85. Alphabet Inc has a 52-week low of $672.66 and a 52-week high of $874.42.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.65 by $1.71. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The business had revenue of $21.22 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the prior year, the firm posted $8.67 earnings per share. On average, equities research analysts expect that Alphabet Inc will post $33.33 earnings per share for the current year.
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GOOGL has been the topic of several analyst reports. Argus restated a “buy” rating and set a $950.00 price target on shares of Alphabet in a research report on Tuesday, January 31st. Jefferies Group LLC restated a “buy” rating and set a $1,000.00 price target on shares of Alphabet in a research report on Friday, December 23rd. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $909.92 price target on the stock in a research report on Tuesday, March 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,040.00 price objective on shares of Alphabet in a report on Monday, January 30th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $1,000.00 price objective on shares of Alphabet in a report on Sunday, March 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and an average target price of $964.41.
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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