Kornitzer Capital Management Inc. KS Has $47.46 Million Position in Alphabet Inc (GOOGL)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 10.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,419 shares of the information services provider’s stock after selling 5,394 shares during the period. Alphabet makes up about 0.9% of Kornitzer Capital Management Inc. KS’s investment portfolio, making the stock its 16th largest holding. Kornitzer Capital Management Inc. KS’s holdings in Alphabet were worth $47,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GOOGL. Watch Point Trust Co increased its holdings in shares of Alphabet by 10.2% in the 3rd quarter. Watch Point Trust Co now owns 1,382 shares of the information services provider’s stock worth $1,668,000 after acquiring an additional 128 shares during the period. Palo Capital Inc. increased its holdings in shares of Alphabet by 43.5% in the 3rd quarter. Palo Capital Inc. now owns 478 shares of the information services provider’s stock worth $577,000 after acquiring an additional 145 shares during the period. Carnick & Kubik Group LLC increased its holdings in shares of Alphabet by 4.0% in the 3rd quarter. Carnick & Kubik Group LLC now owns 4,117 shares of the information services provider’s stock worth $4,970,000 after acquiring an additional 157 shares during the period. Oakworth Capital Inc. increased its holdings in shares of Alphabet by 26.7% in the 3rd quarter. Oakworth Capital Inc. now owns 437 shares of the information services provider’s stock worth $527,000 after acquiring an additional 92 shares during the period. Finally, Brightworth increased its holdings in shares of Alphabet by 1.5% in the 3rd quarter. Brightworth now owns 5,928 shares of the information services provider’s stock worth $7,156,000 after acquiring an additional 86 shares during the period. 34.12% of the stock is owned by institutional investors.

NASDAQ:GOOGL opened at $1,170.80 on Thursday. Alphabet Inc has a twelve month low of $977.66 and a twelve month high of $1,296.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The stock has a market cap of $789.07 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.56 by $1.34. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The company had revenue of $29.48 billion during the quarter, compared to analyst estimates of $29.99 billion. During the same quarter last year, the firm posted $13.33 EPS. Equities research analysts expect that Alphabet Inc will post 48.44 earnings per share for the current year.

GOOGL has been the topic of several research analyst reports. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. DZ Bank reissued a “hold” rating and set a $1,197.00 target price on shares of Alphabet in a research note on Wednesday, May 1st. Deutsche Bank raised their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wedbush reissued an “outperform” rating and set a $1,350.00 target price on shares of Alphabet in a research note on Tuesday, February 5th. Five analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $1,328.88.

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About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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