ARS Investment Partners LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,031 shares of the information services provider’s stock after selling 417 shares during the quarter. Alphabet accounts for approximately 2.7% of ARS Investment Partners LLC’s investment portfolio, making the stock its 7th largest position. ARS Investment Partners LLC’s holdings in Alphabet were worth $19,552,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Harbour Capital Advisors LLC lifted its stake in Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock worth $800,000 after acquiring an additional 742,602 shares during the period. Investec Asset Management LTD increased its holdings in shares of Alphabet by 62.7% during the first quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock valued at $526,576,000 after acquiring an additional 239,390 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Alphabet during the second quarter valued at about $222,766,000. Karp Capital Management Corp increased its holdings in shares of Alphabet by 5,218.2% during the first quarter. Karp Capital Management Corp now owns 199,752 shares of the information services provider’s stock valued at $169,350,000 after acquiring an additional 195,996 shares in the last quarter. Finally, State Street Corp boosted its position in Alphabet by 1.2% in the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after buying an additional 142,214 shares during the last quarter. 33.62% of the stock is owned by institutional investors.
Alphabet Inc (NASDAQ:GOOGL) traded down $13.20 during mid-day trading on Monday, reaching $1,011.87. The company had a trading volume of 1,938,555 shares, compared to its average volume of 1,629,794. The stock has a market capitalization of $697,910.00, a PE ratio of 34.32, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. Alphabet Inc has a 12-month low of $766.97 and a 12-month high of $1,080.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter in the previous year, the company posted $9.06 earnings per share. research analysts predict that Alphabet Inc will post 32.34 EPS for the current fiscal year.
Several equities research analysts have commented on GOOGL shares. Goldman Sachs Group upped their price objective on Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. MKM Partners reiterated a “buy” rating and set a $1,210.00 target price (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. SunTrust Banks began coverage on Alphabet in a research report on Tuesday, August 15th. They set a “buy” rating and a $1,100.00 target price on the stock. Robert W. Baird reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Monday, September 11th. Finally, UBS reiterated a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,088.53.
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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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