North Star Asset Management Inc. decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,308 shares of the information services provider’s stock after selling 94 shares during the period. North Star Asset Management Inc.’s holdings in Alphabet were worth $6,592,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Armstrong Henry H Associates Inc. grew its stake in shares of Alphabet by 23.3% during the 3rd quarter. Armstrong Henry H Associates Inc. now owns 576 shares of the information services provider’s stock valued at $695,000 after acquiring an additional 109 shares during the period. Cullinan Associates Inc. grew its stake in shares of Alphabet by 5.5% during the 3rd quarter. Cullinan Associates Inc. now owns 13,469 shares of the information services provider’s stock valued at $16,258,000 after acquiring an additional 701 shares during the period. Jackson Financial Management bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $220,000. West Coast Financial LLC grew its stake in shares of Alphabet by 9.3% during the 3rd quarter. West Coast Financial LLC now owns 6,551 shares of the information services provider’s stock valued at $7,908,000 after acquiring an additional 560 shares during the period. Finally, Abner Herrman & Brock LLC grew its stake in shares of Alphabet by 4.4% during the 3rd quarter. Abner Herrman & Brock LLC now owns 1,127 shares of the information services provider’s stock valued at $1,360,000 after acquiring an additional 48 shares during the period. 33.51% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, February 18th. Argus reiterated a “buy” rating and set a $1,450.00 price objective on shares of Alphabet in a research note on Wednesday, May 1st. Morgan Stanley cut their price objective on Alphabet from $1,500.00 to $1,425.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Deutsche Bank boosted their price objective on Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, ValuEngine upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,323.74.
GOOGL stock traded down $19.62 during midday trading on Wednesday, hitting $1,119.94. The company’s stock had a trading volume of 1,585,678 shares, compared to its average volume of 1,643,895. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The company has a market capitalization of $777.51 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.56 by $1.34. The business had revenue of $29.48 billion for the quarter, compared to analysts’ expectations of $29.99 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. During the same period in the prior year, the firm earned $13.33 EPS. Sell-side analysts anticipate that Alphabet Inc will post 48.44 EPS for the current fiscal 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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