CQS Cayman LP lowered its stake in Alphabet Inc (NASDAQ:GOOGL) by 46.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,003 shares of the information services provider’s stock after selling 35,036 shares during the period. Alphabet accounts for about 2.5% of CQS Cayman LP’s holdings, making the stock its 8th largest holding. CQS Cayman LP’s holdings in Alphabet were worth $46,300,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Alphabet by 0.7% during the 2nd quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after purchasing an additional 128,040 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Alphabet by 134,676.9% during the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after purchasing an additional 17,925,496 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after purchasing an additional 24,188 shares during the last quarter. Jennison Associates LLC boosted its stake in Alphabet by 10.1% during the 2nd quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock valued at $1,965,840,000 after purchasing an additional 159,959 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Alphabet by 115,058.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock valued at $1,216,000 after buying an additional 1,387,599 shares during the period. Institutional investors own 30.54% of the company’s stock.
Several research firms have recently weighed in on GOOGL. ValuEngine raised Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Guggenheim began coverage on Alphabet in a report on Thursday. They set a “buy” rating and a $1,330.00 price target on the stock. Nomura reissued a “buy” rating and set a $1,400.00 price target on shares of Alphabet in a report on Tuesday. MKM Partners lowered their price target on Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating on the stock in a report on Monday, November 26th. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,500.00 price target (down from $1,515.00) on shares of Alphabet in a report on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,330.16.
Shares of Alphabet stock opened at $1,046.58 on Friday. The stock has a market cap of $739.35 billion, a PE ratio of 32.65, a PEG ratio of 1.31 and a beta of 1.06. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. Alphabet Inc has a twelve month low of $984.00 and a twelve month high of $1,291.44.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.54 by $2.52. The firm had revenue of $27.16 billion during the quarter, compared to analyst estimates of $27.32 billion. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. Analysts anticipate that Alphabet Inc will post 45.02 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.
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