Alphabet Reported Mixed 4Q Results; Raising FVE to $860; Shares Fairly Valued
Wide-moat Alphabet ended fiscal 2016 on a mixed note as the company beat revenue expectations but fell a bit short in earnings. Ad revenue growth remained strong, and operating margin expansion was evident during the quarter and the full year, along with further indications of Google making headway on the cloud front. We adjusted our top-line projections higher, partially offset by a slightly lower operating margin assumption. These changes, along with rolling our model forward, resulted in a fa...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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