Migdal Insurance & Financial Holdings Ltd. lessened its stake in Alphabet Inc (NASDAQ:GOOGL) by 26.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,040 shares of the information services provider’s stock after selling 1,420 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Alphabet were worth $3,934,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. State of Alaska Department of Revenue acquired a new position in shares of Alphabet during the 2nd quarter valued at $102,000. Parkside Financial Bank & Trust lifted its holdings in shares of 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 lifted its holdings in shares of 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. Lloyds Banking Group plc acquired a new position in shares of Alphabet during the 2nd quarter valued at $133,000. Finally, Farmers National Bank lifted its holdings in shares of Alphabet by 3.3% during the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after acquiring an additional 5 shares in the last quarter. Institutional investors own 33.60% of the company’s stock.
Alphabet Inc (NASDAQ GOOGL) traded up $8.29 during mid-day trading on Monday, reaching $1,054.56. 2,810,000 shares of the company traded hands, compared to its average volume of 2,120,000. Alphabet Inc has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00. The firm has a market capitalization of $729,860.00, a price-to-earnings ratio of 58.72, a PEG ratio of 1.08 and a beta of 0.95. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. equities analysts forecast that Alphabet Inc will post 42.51 earnings per share for the current year.
Alphabet announced that its board has initiated a share buyback plan on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have commented on GOOGL shares. Goldman Sachs Group boosted their price objective on shares of Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. SunTrust Banks cut their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Argus boosted their price objective on shares of Alphabet to $1,300.00 in a report on Monday, February 5th. Barclays reiterated a “buy” rating and issued a $1,260.00 price objective on shares of Alphabet in a report on Friday, October 27th. Finally, B. Riley reiterated a “buy” rating and issued a $1,200.00 price objective (up previously from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $1,157.02.
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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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