Alphabet Inc Class A (GOOGL) Shares Sold by Centre Asset Management LLC

Centre Asset Management LLC cut its stake in Alphabet Inc Class A (NASDAQ:GOOGL) by 5.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 10,450 shares of the information services provider’s stock after selling 650 shares during the quarter. Alphabet Inc Class A makes up about 2.8% of Centre Asset Management LLC’s holdings, making the stock its 5th biggest holding. Centre Asset Management LLC’s holdings in Alphabet Inc Class A were worth $11,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Summit Trail Advisors LLC increased its holdings in Alphabet Inc Class A by 134,676.9% during the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after purchasing an additional 17,925,496 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Alphabet Inc Class A by 115,058.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after purchasing an additional 1,387,599 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Alphabet Inc Class A by 78.1% during the 1st quarter. OppenheimerFunds Inc. now owns 1,313,669 shares of the information services provider’s stock valued at $1,362,458,000 after purchasing an additional 575,882 shares in the last quarter. BlackRock Inc. increased its holdings in Alphabet Inc Class A by 1.5% during the 1st quarter. BlackRock Inc. now owns 18,733,196 shares of the information services provider’s stock valued at $19,428,946,000 after purchasing an additional 269,848 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Alphabet Inc Class A by 20.5% during the 1st quarter. California Public Employees Retirement System now owns 1,271,699 shares of the information services provider’s stock valued at $1,318,930,000 after purchasing an additional 216,119 shares in the last quarter. 33.46% of the stock is owned by institutional investors and hedge funds.

Shares of GOOGL opened at $1,085.98 on Friday. Alphabet Inc Class A has a 52 week low of $984.00 and a 52 week high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. The firm has a market capitalization of $730.40 billion, a price-to-earnings ratio of 33.88, a PEG ratio of 1.28 and a beta of 1.10.

Alphabet Inc Class A (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.54 by $2.52. Alphabet Inc Class A had a return on equity of 19.40% and a net margin of 14.45%. The business had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion. Analysts forecast that Alphabet Inc Class A will post 45.24 EPS for the current year.

A number of equities research analysts recently weighed in on the company. Credit Suisse Group reaffirmed an “outperform” rating and set a $1,375.00 price target (up from $1,330.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. SunTrust Banks raised their price target on Alphabet Inc Class A to $1,370.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Royal Bank of Canada raised their price target on Alphabet Inc Class A to $1,400.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Argus raised their price target on Alphabet Inc Class A to $1,450.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Finally, Macquarie reaffirmed a “buy” rating and set a $1,250.00 price target on shares of Alphabet Inc Class A in a report on Monday, August 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the stock. Alphabet Inc Class A currently has a consensus rating of “Buy” and a consensus price target of $1,334.23.

Alphabet Inc Class A Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: Float

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Institutional Ownership by Quarter for Alphabet Inc Class A (NASDAQ:GOOGL)

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