Essex Investment Management Co. LLC decreased its position in Alphabet Inc (NASDAQ:GOOGL) by 5.3% in the 3rd 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 quarter. Alphabet accounts for approximately 1.0% of Essex Investment Management Co. LLC’s holdings, 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 quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in Alphabet during the 2nd quarter valued at $102,000. Parkside Financial Bank & Trust raised its stake in Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares in the last quarter. Odey Holdings AG raised its stake in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 20 shares in the last quarter. Farmers National Bank raised its stake in Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares in the last quarter. Finally, Lloyds Banking Group plc bought a new stake in Alphabet during the 2nd quarter valued at $133,000. Institutional investors own 33.59% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Cantor Fitzgerald reiterated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, October 24th. Stifel Nicolaus reiterated a “buy” rating and set a $1,150.00 price target (up from $1,075.00) on shares of Alphabet in a research report on Tuesday, October 24th. Vetr upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 price target on the stock in a research report on Monday, November 6th. Finally, Barclays reiterated a “buy” rating and set a $1,260.00 price target on shares of Alphabet in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $1,104.83.
Shares of Alphabet Inc (GOOGL) opened at $1,187.56 on Monday. The stock has a market capitalization of $821,020.00, a price-to-earnings ratio of 39.56, a P/E/G ratio of 1.54 and a beta of 0.90. Alphabet Inc has a 12-month low of $812.05 and a 12-month high of $1,187.56. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter last year, the firm earned $9.06 earnings per share. equities analysts forecast that Alphabet Inc will post 32.36 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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