Puzo Michael J lessened its position in Alphabet Inc (NASDAQ:GOOGL) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 7,533 shares of the information services provider’s stock after selling 144 shares during the period. Alphabet comprises 3.6% of Puzo Michael J’s holdings, making the stock its 4th biggest holding. Puzo Michael J’s holdings in Alphabet were worth $10,089,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Larson Financial Group LLC increased its position in Alphabet by 5.1% during the 4th quarter. Larson Financial Group LLC now owns 145 shares of the information services provider’s stock valued at $194,000 after purchasing an additional 7 shares during the period. DAGCO Inc. raised its stake in Alphabet by 0.6% in the third quarter. DAGCO Inc. now owns 1,282 shares of the information services provider’s stock worth $1,565,000 after buying an additional 8 shares in the last quarter. First Heartland Consultants Inc. raised its stake in Alphabet by 3.8% in the third quarter. First Heartland Consultants Inc. now owns 217 shares of the information services provider’s stock worth $265,000 after buying an additional 8 shares in the last quarter. Chemung Canal Trust Co. raised its holdings in Alphabet by 1.9% in the fourth quarter. Chemung Canal Trust Co. now owns 434 shares of the information services provider’s stock worth $581,000 after purchasing an additional 8 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its stake in shares of Alphabet by 0.6% in the 4th quarter. Archford Capital Strategies LLC now owns 1,363 shares of the information services provider’s stock worth $1,826,000 after acquiring an additional 8 shares in the last quarter. 33.55% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on GOOGL shares. KeyCorp increased their price target on shares of Alphabet from $1,516.00 to $1,546.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Evercore ISI reaffirmed a “positive” rating and issued a $1,600.00 price objective (up from $1,350.00) on shares of Alphabet in a research report on Monday. Citigroup reiterated a “buy” rating and set a $1,500.00 target price (up from $1,450.00) on shares of Alphabet in a research note on Tuesday, December 3rd. Guggenheim reduced their target price on Alphabet from $1,525.00 to $1,460.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Jefferies Financial Group boosted their price target on Alphabet from $1,500.00 to $1,550.00 in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,438.05.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). The company had revenue of $33.01 billion for the quarter, compared to analysts’ expectations of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same period in the previous year, the firm earned $13.06 earnings per share. On average, equities analysts anticipate that Alphabet Inc will post 49.03 earnings per share for the current fiscal year.
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.
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