Crossmark Global Holdings Inc. cut its stake in Alphabet Inc (NASDAQ:GOOGL) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,458 shares of the information services provider’s stock after selling 1,595 shares during the quarter. Alphabet accounts for 0.6% of Crossmark Global Holdings Inc.’s holdings, making the stock its 23rd biggest position. Crossmark Global Holdings Inc.’s holdings in Alphabet were worth $20,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Vestor Capital LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at approximately $62,000. Lavaca Capital LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $97,000. Sound Income Strategies LLC grew its position in shares of Alphabet by 71.4% in the 4th quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock valued at $100,000 after purchasing an additional 40 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $103,000. Finally, CX Institutional grew its position in shares of Alphabet by 93.1% in the 4th quarter. CX Institutional now owns 112 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 54 shares during the period. 34.12% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on GOOGL shares. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 price objective for the company in a research report on Monday, January 28th. Stifel Nicolaus reduced their price target on Alphabet from $1,400.00 to $1,300.00 and set a “buy” rating for the company in a research report on Friday, January 25th. Deutsche Bank reaffirmed a “buy” rating and set a $1,300.00 price target on shares of Alphabet in a research report on Wednesday, January 23rd. Wells Fargo & Co set a $1,300.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, SunTrust Banks reduced their price target on Alphabet to $1,350.00 and set a “buy” rating for the company in a research report on Tuesday, February 5th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,328.88.
NASDAQ GOOGL opened at $1,170.80 on Thursday. The company has a market capitalization of $789.07 billion, a PE ratio of 24.64, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. Alphabet Inc has a 12 month low of $977.66 and a 12 month high of $1,296.97.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating the consensus estimate of $10.56 by $1.34. The company had revenue of $29.48 billion during the quarter, compared to the consensus estimate of $29.99 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. During the same quarter in the prior year, the firm posted $13.33 EPS. On average, sell-side analysts forecast that Alphabet Inc will post 48.44 earnings per share for the current year.
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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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