Brave Asset Management Inc. Acquires 50 Shares of Alphabet Inc. (GOOGL)

Brave Asset Management Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 527 shares of the information services provider’s stock after purchasing an additional 50 shares during the period. Brave Asset Management Inc.’s holdings in Alphabet were worth $555,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Smith Salley & Associates purchased a new position in Alphabet in the third quarter valued at approximately $222,000. Fiduciary Trust Co. increased its stake in Alphabet by 0.7% in the third quarter. Fiduciary Trust Co. now owns 37,470 shares of the information services provider’s stock valued at $36,486,000 after purchasing an additional 266 shares during the last quarter. Sandy Spring Bank increased its stake in Alphabet by 5.1% in the third quarter. Sandy Spring Bank now owns 4,391 shares of the information services provider’s stock valued at $4,276,000 after purchasing an additional 212 shares during the last quarter. Princeton Capital Management Inc. increased its stake in Alphabet by 30.6% in the third quarter. Princeton Capital Management Inc. now owns 9,314 shares of the information services provider’s stock valued at $9,069,000 after purchasing an additional 2,181 shares during the last quarter. Finally, Breton Hill Capital Ltd. increased its stake in Alphabet by 59.3% in the third quarter. Breton Hill Capital Ltd. now owns 2,165 shares of the information services provider’s stock valued at $2,108,000 after purchasing an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.

Alphabet opened at $1,081.26 on Friday, Marketbeat.com reports. Alphabet Inc. has a one year low of $1,081.68 and a one year high of $1,094.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85. The firm has a market capitalization of $753.93 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.21 by $0.72. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The company had revenue of $24.86 billion during the quarter, compared to the consensus estimate of $24.20 billion. During the same quarter last year, the company earned $7.73 earnings per share. analysts predict that Alphabet Inc. will post 40.75 earnings per share for the current year.

Alphabet announced that its board has approved a share repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

GOOGL has been the topic of several recent analyst reports. Argus increased their price target on shares of Alphabet to $1,300.00 in a research note on Monday, February 5th. Credit Suisse Group dropped their price target on shares of Alphabet from $1,350.00 to $1,400.00 in a research note on Monday, April 23rd. TheStreet upgraded shares of Alphabet from a “c+” rating to an “a-” rating in a research note on Monday, April 23rd. B. Riley increased their price target on shares of Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 price target on the stock in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,201.44.

Alphabet Company Profile

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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