Clear Perspective Advisors LLC lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,004 shares of the information services provider’s stock after selling 75 shares during the quarter. Clear Perspective Advisors LLC’s holdings in Alphabet were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Odey Holdings AG boosted its holdings in Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Stelac Advisory Services LLC acquired a new stake in Alphabet in the third quarter worth about $126,000. Lloyds Banking Group plc acquired a new stake in Alphabet in the second quarter worth about $133,000. Farmers National Bank boosted its holdings in Alphabet by 3.3% in the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after acquiring an additional 5 shares in the last quarter. Finally, Hudock Capital Group LLC boosted its holdings in Alphabet by 11.7% in the second quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after acquiring an additional 17 shares in the last quarter. 33.29% of the stock is currently owned by institutional investors.
GOOGL has been the subject of several recent analyst reports. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 target price for the company in a report on Monday, January 29th. Deutsche Bank reaffirmed a “buy” rating and set a $1,400.00 target price on shares of Alphabet in a report on Monday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,215.00 target price (up previously from $1,210.00) on shares of Alphabet in a report on Friday, January 26th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Finally, Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 target price for the company in a report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,161.00.
Alphabet Inc (NASDAQ:GOOGL) opened at $1,113.75 on Thursday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $766,755.56, a P/E ratio of 34.48, a P/E/G ratio of 1.14 and a beta of 0.95. Alphabet Inc has a 12-month low of $824.30 and a 12-month high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The business had revenue of $25.87 billion during 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%. equities analysts predict that Alphabet Inc will post 42.52 EPS for the current year.
Alphabet announced that its board has approved a share buyback plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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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