Douglass Winthrop Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,495 shares of the information services provider’s stock after selling 159 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Alphabet were worth $19,983,000 at the end of the most recent quarter.
Other hedge funds have 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 hedge funds and other institutional investors.
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Alphabet Inc. (GOOGL) opened at $1,048.47 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet Inc. has a 12-month low of $753.36 and a 12-month high of $1,063.62. The stock has a market capitalization of $720,098.75, a P/E ratio of 34.70, a P/E/G ratio of 1.75 and a beta of 0.91.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The firm 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 quarter in the previous year, the business posted $9.06 EPS. research analysts anticipate that Alphabet Inc. will post 32.15 earnings per share for the current fiscal year.
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. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,112.00 price objective for the company in a report on Friday, July 21st. JMP Securities reissued a “buy” rating and set a $1,077.00 price objective (down from $1,095.00) on shares of Alphabet in a report on Tuesday, July 25th. Deutsche Bank AG reissued a “buy” rating and set a $1,258.00 price objective (up from $1,250.00) on shares of Alphabet in a report on Saturday, July 22nd. Finally, Bank of America Corporation reissued a “buy” rating and set a $1,100.00 price objective (up from $1,035.00) on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $1,088.53.
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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