Capital Insight Partners LLC reduced its position in Alphabet Inc (NASDAQ:GOOGL) by 1.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,444 shares of the information services provider’s stock after selling 33 shares during the period. Alphabet makes up approximately 2.6% of Capital Insight Partners LLC’s holdings, making the stock its 4th largest holding. Capital Insight Partners LLC’s holdings in Alphabet were worth $2,984,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Litman Gregory Asset Management LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $37,000. Belvedere Advisors LLC acquired a new position in Alphabet during the 1st quarter worth approximately $38,000. Thor Advisors LLC acquired a new position in Alphabet during the 1st quarter worth approximately $45,000. Lipe & Dalton acquired a new position in Alphabet during the 2nd quarter worth approximately $49,000. Finally, Johnson Financial Group Inc. lifted its position in Alphabet by 26.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock worth $52,000 after acquiring an additional 10 shares in the last quarter. 33.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ GOOGL traded up $10.15 during trading on Wednesday, reaching $1,200.28. The stock had a trading volume of 239,733 shares, compared to its average volume of 1,570,821. Alphabet Inc has a one year low of $977.66 and a one year high of $1,296.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The stock has a market cap of $832.27 billion, a PE ratio of 25.26, a P/E/G ratio of 1.42 and a beta of 0.99. The firm’s 50 day moving average price is $1,205.66 and its two-hundred day moving average price is $1,174.22.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. On average, research analysts expect that Alphabet Inc will post 51.29 earnings per share for the current year.
Several research firms recently commented on GOOGL. Credit Suisse Group boosted their price target on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JMP Securities boosted their price target on Alphabet to $1,450.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Citigroup reissued a “buy” rating and set a $1,450.00 price target (up from $1,325.00) on shares of Alphabet in a research report on Friday, July 26th. Cowen set a $1,500.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,189.00 price objective on the stock in a report on Monday, July 8th. Eight equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,375.78.
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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