Zurich Insurance Group Ltd FI Lowers Position in Alphabet Inc (GOOGL)

Zurich Insurance Group Ltd FI reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 9.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 46,026 shares of the information services provider’s stock after selling 4,910 shares during the period. Alphabet makes up 1.2% of Zurich Insurance Group Ltd FI’s portfolio, making the stock its 15th largest position. Zurich Insurance Group Ltd FI’s holdings in Alphabet were worth $36,473,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOGL. State Street Corp increased its stake 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 valued at $9,354,187,000 after buying an additional 342,368 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 valued at $3,465,200,000 after buying an additional 213,418 shares in the last quarter. BlackRock Fund Advisors increased its stake in Alphabet by 3.3% in the third quarter. BlackRock Fund Advisors now owns 3,953,779 shares of the information services provider’s stock valued at $3,179,076,000 after buying an additional 124,684 shares in the last quarter. Nordea Investment Management AB increased its stake in Alphabet by 4.4% in the third quarter. Nordea Investment Management AB now owns 950,937 shares of the information services provider’s stock valued at $764,610,000 after buying an additional 40,092 shares in the last quarter. Finally, Boston Partners increased its stake in Alphabet by 7.1% in the third quarter. Boston Partners now owns 867,774 shares of the information services provider’s stock valued at $697,743,000 after buying an additional 57,284 shares in the last quarter. 34.98% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Shares of Alphabet Inc (NASDAQ:GOOGL) traded down 0.02% during trading on Friday, reaching $859.89. The company’s stock had a trading volume of 247,150 shares. Alphabet Inc has a 1-year low of $672.66 and a 1-year 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. The stock has a market capitalization of $594.55 billion, a price-to-earnings ratio of 30.85 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.65 by $1.71. The company had revenue of $21.22 billion for the quarter, compared to analyst estimates of $20.58 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. During the same period in the previous year, the firm posted $8.67 EPS. Analysts anticipate that Alphabet Inc will post $33.33 EPS for the current year.

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A number of equities analysts have recently issued reports on GOOGL shares. BMO Capital Markets downgraded Alphabet from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $1,005.00 to $880.00 in a research note on Tuesday, April 4th. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a research note on Friday, March 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,040.00 price objective on shares of Alphabet in a research note on Monday, March 13th. Loop Capital assumed coverage on Alphabet in a research note on Friday, March 31st. They issued a “hold” rating and a $800.00 price objective for the company. Finally, Goldman Sachs Group Inc reaffirmed a “conviction-buy” rating and issued a $970.00 price objective on shares of Alphabet in a research note on Monday, January 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $964.41.

About Alphabet

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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