Kovack Advisors Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,593 shares of the information services provider’s stock, valued at approximately $4,838,000. Alphabet accounts for about 2.5% of Kovack Advisors Inc.’s investment portfolio, making the stock its 4th largest holding.

Other institutional investors also recently made changes to their positions in the company. Odey Holdings AG lifted its holdings in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Stelac Advisory Services LLC bought a new position in Alphabet during the third quarter worth about $126,000. Wealthcare Advisory Partners LLC bought a new position in Alphabet during the third quarter worth about $137,000. QCI Asset Management Inc. NY lifted its holdings in Alphabet by 27.2% during the second quarter. QCI Asset Management Inc. NY now owns 173 shares of the information services provider’s stock worth $161,000 after acquiring an additional 37 shares in the last quarter. Finally, Delta Asset Management LLC TN lifted its holdings in Alphabet by 57.4% during the third quarter. Delta Asset Management LLC TN now owns 170 shares of the information services provider’s stock worth $166,000 after acquiring an additional 62 shares in the last quarter. 34.38% of the stock is owned by institutional investors and hedge funds.

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Several research analysts have weighed in on GOOGL shares. SunTrust Banks reduced their target price on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Argus lifted their target price on Alphabet to $1,300.00 in a report on Monday, February 5th. Robert W. Baird reiterated a “buy” rating and set a $1,150.00 target price on shares of Alphabet in a report on Tuesday, January 2nd. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 target price on the stock in a report on Tuesday, December 26th. Finally, Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price on the stock in a report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,172.65.

GOOGL opened at $1,046.10 on Tuesday. Alphabet Inc. has a 52-week low of $841.03 and a 52-week high of $1,198.00. The stock has a market cap of $719,823.00, a P/E ratio of 32.64, a P/E/G ratio of 1.11 and a beta of 1.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. equities research analysts predict that Alphabet Inc. will post 41.18 EPS for the current year.

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

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About Alphabet

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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