IBM Retirement Fund lowered its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 11.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,137 shares of the information services provider’s stock after selling 831 shares during the quarter. Alphabet accounts for 1.4% of IBM Retirement Fund’s investment portfolio, making the stock its 9th largest holding. IBM Retirement Fund’s holdings in Alphabet were worth $6,930,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. New England Research & Management Inc. grew its stake in Alphabet 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. grew its stake in Alphabet 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. grew its stake in Alphabet 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 grew its stake in Alphabet 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, Hilltop Holdings Inc. grew its stake in Alphabet by 117.5% in the 1st quarter. Hilltop Holdings Inc. now owns 1,855 shares of the information services provider’s stock valued at $1,924,000 after purchasing an additional 1,002 shares during the period. Institutional investors and hedge funds own 30.54% of the company’s stock.
A number of research analysts have issued reports on GOOGL shares. Macquarie restated a “buy” rating and issued a $1,250.00 price objective on shares of Alphabet in a research note on Thursday, September 27th. Pivotal Research reduced their price objective on Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a research note on Friday, October 12th. MKM Partners upped their price objective on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a research note on Wednesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and set a $1,515.00 price target (up previously from $1,325.00) on shares of Alphabet in a research note on Wednesday, August 29th. Finally, Wedbush began coverage on Alphabet in a research note on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,330.16.
Shares of GOOGL opened at $1,046.58 on Friday. The stock has a market cap of $739.35 billion, a P/E ratio of 32.65, a P/E/G ratio of 1.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet Inc has a 52-week low of $984.00 and a 52-week high of $1,291.44.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $2.52. The business had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. As a group, research analysts expect that Alphabet Inc will post 45.02 EPS for the current year.
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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.
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