Essex Investment Management Co. LLC reduced its stake in Alphabet Inc (NASDAQ:GOOGL) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,584 shares of the information services provider’s stock after selling 424 shares during the period. Alphabet makes up about 1.0% of Essex Investment Management Co. LLC’s holdings, making the stock its 18th largest holding. Essex Investment Management Co. LLC’s holdings in Alphabet were worth $7,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of GOOGL. Novare Capital Management LLC lifted its stake in Alphabet by 0.9% during the second quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock worth $7,986,000 after purchasing an additional 80 shares during the last quarter. Camelot Portfolios LLC bought a new stake in Alphabet during the second quarter worth about $211,000. Country Trust Bank bought a new stake in Alphabet during the second quarter worth about $44,071,000. Gardiner Nancy B lifted its stake in Alphabet by 5.4% during the third quarter. Gardiner Nancy B now owns 1,450 shares of the information services provider’s stock worth $1,412,000 after purchasing an additional 74 shares during the last quarter. Finally, Anchor Capital Advisors LLC lifted its stake in Alphabet by 3.0% during the second quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock worth $351,000 after purchasing an additional 11 shares during the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.
GOOGL has been the subject of several research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $1,075.00 price target on shares of Alphabet in a research note on Monday, September 25th. UBS Group reiterated a “buy” rating and issued a $1,080.00 price objective on shares of Alphabet in a report on Friday, September 8th. Jefferies Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Alphabet in a report on Tuesday, October 10th. They noted that the move was a valuation call. Mizuho reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, October 17th. Finally, Vetr downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective on the stock. in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $1,096.47.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period in the prior year, the firm posted $9.06 EPS. equities analysts anticipate that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.
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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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