Nvwm LLC cut its holdings in Alphabet Inc (NASDAQ:GOOGL) by 1.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,068 shares of the information services provider’s stock after selling 32 shares during the period. Alphabet accounts for 2.5% of Nvwm LLC’s investment portfolio, making the stock its 7th biggest position. Nvwm LLC’s holdings in Alphabet were worth $3,565,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Norges Bank bought a new position in Alphabet in the 4th quarter worth approximately $6,806,866,000. Girard Partners LTD. lifted its stake in Alphabet by 9,648.1% in the 1st quarter. Girard Partners LTD. now owns 505,535 shares of the information services provider’s stock worth $6,229,000 after purchasing an additional 500,349 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Alphabet in the 4th quarter worth approximately $332,028,000. Altarock Partners LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $308,060,000. Finally, Parnassus Investments CA lifted its stake in Alphabet by 52.4% in the 1st quarter. Parnassus Investments CA now owns 642,966 shares of the information services provider’s stock worth $747,094,000 after purchasing an additional 220,952 shares in the last quarter. 34.29% of the stock is owned by institutional investors.
Shares of Alphabet stock opened at $1,413.24 on Friday. 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 stock has a market capitalization of $960.27 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Alphabet Inc has a 52-week low of $1,008.87 and a 52-week high of $1,530.74. The company has a 50-day simple moving average of $1,281.39 and a two-hundred day simple moving average of $1,330.33.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) 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 analysts’ expectations of $32.59 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. During the same period last year, the firm posted $9.50 earnings per share. As a group, equities research analysts forecast that Alphabet Inc will post 41.47 EPS for the current fiscal year.
Several research firms have recently weighed in on GOOGL. Societe Generale lowered their price objective on shares of Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. They noted that the move was a valuation call. UBS Group lowered their price objective on shares of Alphabet from $1,675.00 to $1,530.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. SunTrust Banks raised their price objective on shares of Alphabet from $1,350.00 to $1,550.00 and gave the company a “buy” rating in a research report on Friday, April 24th. They noted that the move was a valuation call. Tigress Financial reiterated a “buy” rating on shares of Alphabet in a research report on Monday, March 23rd. Finally, Citigroup lifted their target price on shares of Alphabet from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company’s stock. The company presently has a consensus 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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