Renaissance Group LLC lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 3.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,479 shares of the information services provider’s stock after selling 1,364 shares during the quarter. Alphabet accounts for 1.2% of Renaissance Group LLC’s investment portfolio, making the stock its 27th largest position. Renaissance Group LLC’s holdings in Alphabet were worth $32,054,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Harbour Capital Advisors LLC grew its stake in shares of Alphabet by 65,026.4% during the 2nd 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 grew its stake in shares of Alphabet by 62.7% during the 1st quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock worth $526,576,000 after acquiring an additional 239,390 shares during the period. DekaBank Deutsche Girozentrale bought a new position in shares of Alphabet during the 2nd quarter worth $222,766,000. Karp Capital Management Corp grew its stake in shares of Alphabet by 5,218.2% during the 1st quarter. Karp Capital Management Corp now owns 199,752 shares of the information services provider’s stock worth $169,350,000 after acquiring an additional 195,996 shares during the period. Finally, State Street Corp grew its stake in shares of Alphabet by 1.2% during the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after acquiring an additional 142,214 shares during the period. Hedge funds and other institutional investors own 33.62% of the company’s stock.
Several research firms have recently weighed in on GOOGL. Cowen reiterated an “outperform” rating and set a $1,075.00 price target on shares of Alphabet in a research note on Thursday, August 10th. Bank of America reiterated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, September 26th. B. Riley reiterated a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Monday, September 25th. Wells Fargo & Company reiterated an “outperform” rating and set a $1,250.00 price target on shares of Alphabet in a research note on Wednesday, September 27th. Finally, SunTrust Banks initiated coverage on Alphabet in a report on Tuesday, August 15th. They set a “buy” rating and a $1,100.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $1,089.17.
Shares of Alphabet Inc (GOOGL) opened at $1,011.87 on Tuesday. Alphabet Inc has a 1-year low of $766.97 and a 1-year high of $1,080.00. The firm 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. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter last year, the firm posted $9.06 EPS. equities research analysts forecast that Alphabet Inc will post 32.34 earnings per share for the current year.
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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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