Jaffetilchin Investment Partners LLC lessened its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 52.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 397 shares of the information services provider’s stock after selling 435 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Alphabet were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bath Savings Trust Co raised its stake in shares of Alphabet by 5.2% during the 4th quarter. Bath Savings Trust Co now owns 7,923 shares of the information services provider’s stock valued at $8,346,000 after purchasing an additional 394 shares during the period. White Lighthouse Investment Management Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at $611,000. WIM Asset Management HK Ltd bought a new stake in shares of Alphabet during the 4th quarter valued at $676,000. F&V Capital Management LLC raised its stake in shares of Alphabet by 1.0% during the 4th quarter. F&V Capital Management LLC now owns 5,782 shares of the information services provider’s stock valued at $6,091,000 after purchasing an additional 57 shares during the period. Finally, DnB Asset Management AS raised its stake in shares of Alphabet by 22.8% during the 4th quarter. DnB Asset Management AS now owns 421,611 shares of the information services provider’s stock valued at $444,125,000 after purchasing an additional 78,419 shares during the period. 33.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,232.76 price objective on the stock. in a research note on Tuesday. MKM Partners reiterated a “buy” rating and set 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 reiterated an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Argus boosted their price objective on Alphabet to $1,300.00 in a research note on Monday, February 5th. Finally, Aegis reiterated a “buy” rating and set a $1,350.00 price objective on shares of Alphabet in a research note on Sunday, February 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $1,160.79.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities analysts predict that Alphabet Inc will post 42.52 earnings per share for the current fiscal year.
Alphabet announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign 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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