J. Goldman & Co LP reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 93.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700 shares of the information services provider’s stock after selling 10,250 shares during the period. J. Goldman & Co LP’s holdings in Alphabet were worth $555,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of GOOGL. Asset Management One Co. Ltd. increased its position in Alphabet by 1,116.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 554,276 shares of the information services provider’s stock worth $439,667,000 after buying an additional 508,715 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Alphabet during the fourth quarter worth about $348,302,000. State Street Corp increased its position in Alphabet by 3.0% in the fourth quarter. State Street Corp now owns 11,804,134 shares of the information services provider’s stock worth $9,354,187,000 after buying an additional 342,368 shares during the last quarter. Bank of New York Mellon Corp increased its position in Alphabet by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 4,309,629 shares of the information services provider’s stock worth $3,465,200,000 after buying an additional 213,418 shares during the last quarter. Finally, Jensen Investment Management Inc. bought a new position in Alphabet during the third quarter worth about $134,941,000. 34.98% of the stock is currently owned by institutional investors.
Alphabet Inc (NASDAQ:GOOGL) traded down 0.12% during mid-day trading on Friday, reaching $859.04. 838,840 shares of the company traded hands. The firm has a market capitalization of $593.96 billion, a P/E ratio of 30.82 and a beta of 0.98. Alphabet Inc has a 12-month low of $672.66 and a 12-month high of $874.42. The company’s 50 day moving average price is $851.85 and its 200 day moving average price is $822.85.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.65 by $1.71. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The company had revenue of $21.22 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $8.67 earnings per share. Equities research analysts predict that Alphabet Inc will post $33.33 EPS for the current year.
Several research firms have weighed in on GOOGL. BMO Capital Markets downgraded shares of Alphabet from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $1,005.00 to $880.00 in a report on Tuesday, April 4th. William Blair restated an “outperform” rating on shares of Alphabet in a report on Friday, March 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $1,040.00 price objective on shares of Alphabet in a report on Monday, March 13th. Loop Capital assumed coverage on shares of Alphabet in a report on Friday, March 31st. They set a “hold” rating and a $800.00 price objective on the stock. Finally, Goldman Sachs Group Inc reiterated a “conviction-buy” rating and issued a $970.00 target price on shares of Alphabet in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $964.41.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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