GOOGL Stock: Alphabet Inc Stake Lessened by ARS Investment Partners LLC

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GOOGL Stock: Alphabet Inc Stake Lessened by ARS Investment Partners LLC


ARS Investment Partners LLC lessened its stake in Alphabet Inc (NASDAQ:GOOGL) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,031 shares of the information services provider’s stock after selling 417 shares during the period. Alphabet accounts for approximately 2.7% of ARS Investment Partners LLC’s investment portfolio, making the stock its 7th largest holding. ARS Investment Partners LLC’s holdings in Alphabet were worth $19,552,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. State Street Corp raised its stake in shares of Alphabet by 1.2% during the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after buying an additional 142,214 shares during the period. Legal & General Group Plc increased its position in shares of Alphabet by 3.0% during the second quarter. Legal & General Group Plc now owns 1,441,831 shares of the information services provider’s stock worth $1,340,528,000 after purchasing an additional 42,001 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Alphabet by 7.0% during the second quarter. Canada Pension Plan Investment Board now owns 1,316,448 shares of the information services provider’s stock worth $1,223,875,000 after purchasing an additional 85,800 shares in the last quarter. Bank of Montreal Can grew its holdings in Alphabet by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock valued at $1,017,719,000 after buying an additional 8,375 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Alphabet by 4.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,038,084 shares of the information services provider’s stock valued at $965,086,000 after buying an additional 43,543 shares in the last quarter. Institutional investors own 33.62% of the company’s stock.

A number of research firms have recently weighed in on GOOGL. SunTrust Banks reissued a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a report on Saturday, September 23rd. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective for the company. in a report on Friday, October 6th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $1,150.00 price objective on shares of Alphabet in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,088.53.

Alphabet Inc (NASDAQ:GOOGL) opened at $1,076.88 on Tuesday. Alphabet Inc has a one year low of $753.36 and a one year high of $1,073.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The company has a market cap of $734,071.19, a PE ratio of 35.37, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. During the same quarter in the previous year, the business earned $9.06 EPS. equities analysts expect that Alphabet Inc will post 32.34 EPS for the current year.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)



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