SFE Investment Counsel cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 40.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 641 shares of the information services provider’s stock after selling 430 shares during the quarter. SFE Investment Counsel’s holdings in Alphabet were worth $596,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new position in shares of Alphabet during the second quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet during the first quarter valued at $108,000. Parkside Financial Bank & Trust lifted its holdings in shares of Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the period. Farmers National Bank lifted its holdings in shares of Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares during the period. Finally, Riggs Asset Managment Co. Inc. lifted its holdings in shares of Alphabet by 58.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 56 shares during the period. 33.81% of the stock is owned by institutional investors.
GOOGL has been the subject of a number of analyst reports. Goldman Sachs Group, Inc. (The) lifted their price objective on Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Alphabet in a report on Tuesday, July 25th. Citigroup Inc. lifted their price target on Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. Deutsche Bank AG reaffirmed a “buy” rating and issued a $1,258.00 price target (up from $1,250.00) on shares of Alphabet in a report on Saturday, July 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and an average target price of $1,088.53.
Shares of Alphabet Inc. (GOOGL) opened at $1,044.15 on Monday. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,063.62. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $725,476.50, a price-to-earnings ratio of 34.96, a P/E/G ratio of 1.76 and a beta of 0.91.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter in the prior year, the business earned $9.06 EPS. equities analysts expect that Alphabet Inc. will post 32.15 earnings per share for the current 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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