Raymond James Trust N.A. reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.0% in the 3rd quarter, Holdings Channel reports. The fund owned 8,212 shares of the information services provider’s stock after selling 80 shares during the period. Raymond James Trust N.A.’s holdings in Alphabet were worth $12,035,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in GOOGL. New England Research & Management Inc. raised its position in Alphabet by 7.9% during the first quarter. New England Research & Management Inc. now owns 1,023 shares of the information services provider’s stock valued at $1,189,000 after acquiring an additional 75 shares in the last quarter. Zebra Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $240,000. State Street Corp increased its position in shares of Alphabet by 0.4% in the first quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock valued at $13,582,044,000 after buying an additional 45,599 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $4,229,000. Finally, Morgan Stanley increased its position in shares of Alphabet by 4.6% in the first quarter. Morgan Stanley now owns 2,573,124 shares of the information services provider’s stock valued at $2,989,841,000 after buying an additional 114,032 shares in the last quarter. Institutional investors own 33.78% of the company’s stock.
A number of research firms have recently commented on GOOGL. Monness Crespi & Hardt boosted their price objective on Alphabet from $1,420.00 to $1,700.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Jefferies Financial Group upgraded Alphabet to a “buy” rating in a research report on Monday, July 13th. MKM Partners boosted their price objective on Alphabet from $1,500.00 to $1,700.00 in a research report on Monday, July 27th. Pivotal Research boosted their price objective on Alphabet from $1,575.00 to $1,725.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Credit Suisse Group lifted their price target on Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a research note on Monday, July 20th. Four research analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,679.91.
Shares of NASDAQ GOOGL opened at $1,567.70 on Friday. The stock’s 50-day moving average is $1,519.73 and its two-hundred day moving average is $1,433.08. The company has a market cap of $1,066.29 billion, a price-to-earnings ratio of 34.48, a price-to-earnings-growth ratio of 2.14 and a beta of 1.10. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,726.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The firm had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Equities research analysts anticipate that Alphabet Inc will post 44.87 earnings per share for the current fiscal 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.
Further Reading: Outstanding Shares, Buying and Selling Stocks
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.