Alphabet Inc (GOOGL) Shares Sold by South State Corp

South State Corp lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,834 shares of the information services provider’s stock after selling 154 shares during the quarter. South State Corp’s holdings in Alphabet were worth $4,707,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Koch Industries Inc. lifted its position in Alphabet by 181,219.4% in the 2nd quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after acquiring an additional 1,085,504 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in Alphabet by 65,026.4% in the 2nd quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock valued at $800,000 after acquiring an additional 742,602 shares in the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares in the last quarter. BlackRock Inc. lifted its position in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. Finally, FMR LLC lifted its position in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares in the last quarter. 33.60% of the stock is currently owned by institutional investors.

Alphabet Inc (NASDAQ GOOGL) traded up $4.14 on Friday, hitting $1,095.50. 1,993,147 shares of the stock were exchanged, compared to its average volume of 2,220,000. The stock has a market cap of $763,940.00, a price-to-earnings ratio of 34.13, a P/E/G ratio of 1.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a 12-month low of $824.30 and a 12-month high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. research analysts forecast that Alphabet Inc will post 42.52 earnings per share for the current year.

Alphabet announced that its board has initiated a share repurchase program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Several brokerages recently weighed in on GOOGL. Wells Fargo & Co reaffirmed a “buy” rating and issued a $1,275.00 price target on shares of Alphabet in a research report on Friday, February 2nd. Stifel Nicolaus raised their price target on shares of Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Cowen lifted their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Oppenheimer lifted their target price on shares of Alphabet from $1,180.00 to $1,340.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Finally, Citigroup reissued a “buy” rating on shares of Alphabet in a research report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,157.02.

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Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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