Essex Investment Management Co. LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 5.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,584 shares of the information services provider’s stock after selling 424 shares during the period. Alphabet comprises 1.0% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 18th largest position. Essex Investment Management Co. LLC’s holdings in Alphabet were worth $7,385,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new stake in shares of Alphabet during the second quarter valued at approximately $102,000. Parkside Financial Bank & Trust boosted its position in shares of Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 36 shares in the last quarter. Odey Holdings AG boosted its position in shares of Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Farmers National Bank boosted its position in shares of Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 4 shares in the last quarter. Finally, Lloyds Banking Group plc bought a new stake in Alphabet in the second quarter worth $133,000. 33.55% of the stock is currently owned by institutional investors and hedge funds.
GOOGL has been the subject of several recent analyst reports. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,046.78 price target for the company in a research note on Monday, September 18th. Citigroup restated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research note on Wednesday, September 20th. Susquehanna Bancshares restated a “positive” rating and issued a $1,200.00 price target on shares of Alphabet in a research note on Thursday, September 21st. Cantor Fitzgerald reiterated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Thursday, September 21st. Finally, SunTrust Banks reiterated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, September 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, forty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,100.06.
Alphabet Inc (GOOGL) traded up $18.60 during trading on Friday, hitting $1,130.65. The stock had a trading volume of 1,930,000 shares, compared to its average volume of 1,520,000. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market cap of $783,260.00, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. Alphabet Inc has a 52-week low of $812.05 and a 52-week high of $1,131.30.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Zacks’ 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 company had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter in the previous year, the firm posted $9.06 EPS. equities research analysts forecast that Alphabet Inc will post 32.34 EPS 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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