Carnegie Capital Asset Management LLC lowered its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,034 shares of the information services provider’s stock after selling 479 shares during the period. Alphabet accounts for approximately 1.4% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Carnegie Capital Asset Management LLC’s holdings in Alphabet were worth $17,106,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of GOOGL. Parkside Investments LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $124,000. ELM Advisors LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $128,000. Marino Stram & Associates LLC boosted its holdings in shares of Alphabet by 47.7% in the 2nd quarter. Marino Stram & Associates LLC now owns 161 shares of the information services provider’s stock valued at $182,000 after purchasing an additional 52 shares in the last quarter. Clearwater Capital Advisors LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $200,000. Finally, Garland Capital Management Inc. acquired a new stake in shares of Alphabet in the 3rd quarter valued at $200,000. Hedge funds and other institutional investors own 42.53% of the company’s stock.
GOOGL has been the topic of a number of research analyst reports. Jefferies Financial Group set a $1,200.00 target price on Alphabet and gave the company a “buy” rating in a report on Thursday, December 20th. Nomura reissued an “outperform” rating on shares of Alphabet in a report on Wednesday, February 6th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 target price for the company in a research report on Monday, January 28th. Wells Fargo & Co set a $1,300.00 target price on Alphabet and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, BMO Capital Markets lowered their target price on Alphabet to $1,100.00 and set a “market perform” rating for the company in a research report on Tuesday, February 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,314.86.
Shares of NASDAQ GOOGL opened at $1,190.30 on Friday. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,291.44. The company has a market capitalization of $827.48 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping analysts’ consensus estimates of $11.08 by $1.69. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. The firm had revenue of $31.84 billion for the quarter, compared to the consensus estimate of $31.28 billion. During the same quarter in the previous year, the business earned $9.70 EPS. On average, analysts forecast that Alphabet Inc will post 47.38 EPS for the current fiscal year.
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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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