Halbert Hargrove Russell LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613 shares of the information services provider’s stock after selling 28 shares during the period. Halbert Hargrove Russell LLC’s holdings in Alphabet were worth $520,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Alphabet by 2.6% in the 1st quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock worth $908,302,000 after purchasing an additional 27,598 shares in the last quarter. Boston Partners increased its stake in shares of Alphabet by 9.9% in the 1st quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock worth $823,046,000 after purchasing an additional 87,783 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Alphabet by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 876,214 shares of the information services provider’s stock worth $742,854,000 after purchasing an additional 3,491 shares in the last quarter. Teachers Advisors LLC increased its stake in Alphabet by 2.4% in the 4th quarter. Teachers Advisors LLC now owns 531,295 shares of the information services provider’s stock worth $421,025,000 after buying an additional 12,490 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Alphabet by 15.2% in the 1st quarter. Russell Investments Group Ltd. now owns 499,770 shares of the information services provider’s stock worth $423,745,000 after buying an additional 65,835 shares in the last quarter. Hedge funds and other institutional investors own 33.88% of the company’s stock.
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A number of equities research analysts have issued reports on the company. J P Morgan Chase & Co increased their price target on Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research note on Saturday, July 22nd. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price target for the company in a research note on Tuesday, July 25th. UBS AG reiterated an “overweight” rating on shares of Alphabet in a research note on Thursday, August 24th. Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and increased their price target for the stock from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Finally, FBR & Co reiterated an “outperform” rating and issued a $1,050.00 price target (up previously from $1,032.00) on shares of Alphabet in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,053.45.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded down 0.51% during mid-day trading on Friday, reaching $935.29. 1,994,265 shares of the company traded hands. The company has a market capitalization of $648.04 billion, a P/E ratio of 33.90 and a beta of 0.98. The stock’s 50-day moving average is $940.56 and its 200-day moving average is $926.45. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter last year, the business posted $8.42 earnings per share. On average, equities analysts predict that Alphabet Inc. will post $30.59 EPS for the current fiscal year.
Alphabet Company Profile
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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