State of Tennessee Treasury Department Decreases Holdings in Alphabet Inc. (GOOGL)

State of Tennessee Treasury Department decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 176,751 shares of the information services provider’s stock after selling 13,778 shares during the quarter. Alphabet comprises 0.7% of State of Tennessee Treasury Department’s holdings, making the stock its 23rd largest position. State of Tennessee Treasury Department’s holdings in Alphabet were worth $149,849,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Delta Asset Management LLC TN grew its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. Cordasco Financial Network grew its stake in shares of Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock valued at $199,000 after buying an additional 5 shares in the last quarter. Busey Trust CO grew its stake in shares of Alphabet by 0.3% in the first quarter. Busey Trust CO now owns 1,872 shares of the information services provider’s stock valued at $1,587,000 after buying an additional 5 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of Alphabet by 0.3% in the first quarter. K.J. Harrison & Partners Inc now owns 1,796 shares of the information services provider’s stock valued at $1,523,000 after buying an additional 6 shares in the last quarter. Finally, Union Bankshares Corp grew its stake in shares of Alphabet by 0.6% in the first quarter. Union Bankshares Corp now owns 1,089 shares of the information services provider’s stock valued at $923,000 after buying an additional 7 shares in the last quarter. 33.88% of the stock is owned by institutional investors.

A number of analysts have issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, May 22nd. Aegis reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, May 22nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $1,200.00 price target (up from $950.00) on shares of Alphabet in a report on Sunday, May 28th. Moffett Nathanson restated a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 target price on the stock in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $1,053.45.

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Alphabet Inc. (NASDAQ:GOOGL) opened at 935.29 on Friday. The stock has a 50 day moving average of $940.56 and a 200-day moving average of $926.45. The firm has a market cap of $648.04 billion, a P/E ratio of 33.90 and a beta of 0.98. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the business posted $8.42 EPS. Equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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