Alphabet Inc Class A (GOOGL) Holdings Reduced by Cim Investment Mangement Inc.

Cim Investment Mangement Inc. cut its holdings in shares of Alphabet Inc Class A (NASDAQ:GOOGL) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,251 shares of the information services provider’s stock after selling 63 shares during the quarter. Alphabet Inc Class A makes up 0.9% of Cim Investment Mangement Inc.’s portfolio, making the stock its 10th largest position. Cim Investment Mangement Inc.’s holdings in Alphabet Inc Class A were worth $2,542,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. New England Research & Management Inc. raised its holdings in shares of Alphabet Inc Class A by 87.3% in the 2nd quarter. New England Research & Management Inc. now owns 751 shares of the information services provider’s stock valued at $848,000 after purchasing an additional 350 shares during the period. Pegasus Partners Ltd. raised its holdings in shares of Alphabet Inc Class A by 18.5% in the 2nd quarter. Pegasus Partners Ltd. now owns 468 shares of the information services provider’s stock valued at $528,000 after purchasing an additional 73 shares during the period. Swarthmore Group Inc. raised its holdings in shares of Alphabet Inc Class A by 6.3% in the 2nd quarter. Swarthmore Group Inc. now owns 8,050 shares of the information services provider’s stock valued at $9,090,000 after purchasing an additional 475 shares during the period. Windward Capital Management Co. CA raised its holdings in shares of Alphabet Inc Class A by 0.4% in the 2nd quarter. Windward Capital Management Co. CA now owns 19,540 shares of the information services provider’s stock valued at $22,065,000 after purchasing an additional 71 shares during the period. Finally, Fosun International Ltd raised its holdings in shares of Alphabet Inc Class A by 78.9% in the 1st quarter. Fosun International Ltd now owns 5,690 shares of the information services provider’s stock valued at $5,901,000 after purchasing an additional 2,509 shares during the period. 33.43% of the stock is currently owned by hedge funds and other institutional investors.

GOOGL has been the topic of a number of research analyst reports. SunTrust Banks upped their target price on shares of Alphabet Inc Class A to $1,370.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Bank of America reaffirmed a “buy” rating and issued a $1,390.00 target price (up from $1,270.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. Aegis upped their target price on shares of Alphabet Inc Class A from $1,360.00 to $1,425.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Jefferies Financial Group upped their target price on shares of Alphabet Inc Class A to $1,450.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt upped their target price on shares of Alphabet Inc Class A from $1,306.00 to $1,415.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,333.76.

Shares of NASDAQ:GOOGL opened at $1,077.02 on Friday. Alphabet Inc Class A has a 12-month low of $984.00 and a 12-month high of $1,291.44. The company has a market cap of $771.20 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 1.36 and a beta of 1.06. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

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

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About Alphabet Inc Class A

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: Retained Earnings

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

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