Premier Fund Managers Ltd lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 44.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,879 shares of the information services provider’s stock after selling 4,622 shares during the quarter. Premier Fund Managers Ltd’s holdings in Alphabet were worth $10,211,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Kinloch Capital LLC purchased a new stake in Alphabet in the 4th quarter valued at about $28,000. ForthRight Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at about $32,000. Sageworth Trust Co lifted its stake in shares of Alphabet by 900.0% in the 3rd quarter. Sageworth Trust Co now owns 20 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 18 shares in the last quarter. Cypress Point Wealth Management LLC acquired a new position in Alphabet during the 4th quarter worth approximately $39,000. Finally, Cowa LLC acquired a new position in Alphabet during the 4th quarter worth approximately $38,000. 33.79% of the stock is owned by institutional investors.
GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2,025.00 target price (up from $1,700.00) on shares of Alphabet in a research report on Tuesday, February 2nd. Robert W. Baird boosted their price target on Alphabet to $2,000.00 in a report on Thursday, December 31st. Needham & Company LLC boosted their price target on Alphabet from $1,800.00 to $2,500.00 and gave the company a “buy” rating in a report on Wednesday, February 3rd. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Finally, Cowen restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Three analysts have rated the stock with a hold rating and forty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $2,059.56.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share for the quarter, beating the consensus estimate of $15.90 by $6.40. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.09 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. During the same period in the previous year, the firm earned $15.35 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 52.19 EPS for the current year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
Recommended Story: Trade Deficit
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.