ETRADE Capital Management LLC trimmed its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,032 shares of the information services provider’s stock after selling 253 shares during the period. ETRADE Capital Management LLC’s holdings in Alphabet were worth $9,332,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Stephenson National Bank & Trust purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Cox Capital Mgt LLC purchased a new position in Alphabet in the 1st quarter worth approximately $27,000. TFO TDC LLC purchased a new position in Alphabet in the 4th quarter worth approximately $32,000. BigSur Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth approximately $33,000. Finally, Cedar Mountain Advisors LLC purchased a new position in Alphabet in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 34.29% of the company’s stock.
A number of equities analysts recently weighed in on GOOGL shares. Atlantic Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Alphabet in a report on Wednesday, April 29th. JMP Securities boosted their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. KeyCorp restated a “buy” rating and issued a $1,769.00 price objective on shares of Alphabet in a report on Tuesday, February 4th. Wells Fargo & Co restated a “buy” rating and issued a $1,500.00 price objective on shares of Alphabet in a report on Monday, April 27th. Finally, Societe Generale cut their target price on shares of Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $1,505.34.
Shares of Alphabet stock opened at $1,413.24 on Friday. The company has a market capitalization of $960.27 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The company has a fifty day moving average of $1,281.39 and a 200 day moving average of $1,330.33. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,530.74.
Alphabet (NASDAQ:GOOGL) last issued its 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). The firm had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. During the same period in the prior year, the company posted $9.50 EPS. Analysts forecast that Alphabet Inc will post 41.47 EPS for the current year.
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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