IBM Retirement Fund lessened its holdings in Alphabet Inc (NASDAQ:GOOGL) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,137 shares of the information services provider’s stock after selling 831 shares during the period. Alphabet comprises 1.4% of IBM Retirement Fund’s holdings, making the stock its 9th biggest holding. IBM Retirement Fund’s holdings in Alphabet were worth $6,930,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Private Ocean LLC grew its holdings in shares of Alphabet by 355.6% during the first quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock worth $127,000 after purchasing an additional 96 shares during the last quarter. Highlander Capital Management LLC grew its holdings in shares of Alphabet by 333.3% during the first quarter. Highlander Capital Management LLC now owns 130 shares of the information services provider’s stock worth $133,000 after purchasing an additional 100 shares during the last quarter. Emerald Investment Partners LLC bought a new stake in shares of Alphabet during the second quarter worth about $137,000. Clearwater Capital Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth about $153,000. Finally, Quad Cities Investment Group LLC bought a new stake in shares of Alphabet during the second quarter worth about $179,000. Hedge funds and other institutional investors own 30.54% of the company’s stock.
Shares of GOOGL opened at $1,046.58 on Friday. Alphabet Inc has a 52-week low of $984.00 and a 52-week high of $1,291.44. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $739.35 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping analysts’ consensus estimates of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion. Equities analysts predict that Alphabet Inc will post 45.02 earnings per share for the current year.
GOOGL has been the topic of several analyst reports. Macquarie reiterated a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a report on Monday, August 27th. Morgan Stanley reiterated an “overweight” rating and issued a $1,515.00 target price (up from $1,325.00) on shares of Alphabet in a report on Wednesday, August 29th. MKM Partners upped their target price on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a report on Tuesday, August 21st. Finally, Zacks Investment Research cut Alphabet from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have assigned a buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average price target of $1,330.16.
Alphabet Company Profile
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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