Citizens Financial Group Inc RI grew its position in Alphabet Inc (NASDAQ:GOOGL) by 9.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 16,406 shares of the information services provider’s stock after purchasing an additional 1,413 shares during the period. Alphabet accounts for about 1.6% of Citizens Financial Group Inc RI’s portfolio, making the stock its 13th biggest position. Citizens Financial Group Inc RI’s holdings in Alphabet were worth $19,063,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at $6,806,866,000. Girard Partners LTD. lifted its position in Alphabet by 9,648.1% during the first quarter. Girard Partners LTD. now owns 505,535 shares of the information services provider’s stock valued at $6,229,000 after purchasing an additional 500,349 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Alphabet in the fourth quarter worth about $332,028,000. Altarock Partners LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $308,060,000. Finally, Parnassus Investments CA raised its position in shares of Alphabet by 52.4% in the first quarter. Parnassus Investments CA now owns 642,966 shares of the information services provider’s stock worth $747,094,000 after acquiring an additional 220,952 shares during the period. 34.29% of the stock is currently owned by institutional investors and hedge funds.
Alphabet stock opened at $1,413.24 on Friday. The firm has a 50 day simple moving average of $1,281.39 and a 200-day simple moving average of $1,330.33. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,530.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The stock has a market cap of $960.27 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the consensus estimate of $11.16 by ($1.29). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The firm had revenue of $33.71 billion during the quarter, compared to analysts’ expectations of $32.59 billion. During the same period last year, the company earned $9.50 EPS. Equities analysts expect that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.
A number of brokerages have weighed in on GOOGL. Aegis upped their price objective on shares of Alphabet from $1,425.00 to $1,800.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Zacks Investment Research upgraded shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,344.00 price objective for the company in a research report on Monday, April 20th. Mizuho upped their price objective on shares of Alphabet from $1,500.00 to $1,560.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Pivotal Research decreased their price objective on shares of Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Finally, UBS Group decreased their price objective on shares of Alphabet from $1,675.00 to $1,530.00 and set a “buy” rating for the company in a research report on Monday, March 30th. Four research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $1,505.34.
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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