William Blair Investment Management LLC Sells 11,814 Shares of Alphabet Inc (NASDAQ:GOOGL)

William Blair Investment Management LLC lowered its stake in Alphabet Inc (NASDAQ:GOOGL) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 344,568 shares of the information services provider’s stock after selling 11,814 shares during the quarter. Alphabet comprises approximately 1.2% of William Blair Investment Management LLC’s investment portfolio, making the stock its 10th biggest holding. William Blair Investment Management LLC’s holdings in Alphabet were worth $320,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Reynders McVeigh Capital Management LLC lifted its position in shares of Alphabet by 3.6% in the first quarter. Reynders McVeigh Capital Management LLC now owns 20,859 shares of the information services provider’s stock worth $17,685,000 after purchasing an additional 723 shares in the last quarter. Dowling & Yahnke LLC increased its holdings in Alphabet by 1.9% during the first quarter. Dowling & Yahnke LLC now owns 8,201 shares of the information services provider’s stock worth $6,953,000 after buying an additional 151 shares during the last quarter. Lourd Capital LLC increased its holdings in Alphabet by 4.3% during the first quarter. Lourd Capital LLC now owns 1,011 shares of the information services provider’s stock worth $857,000 after buying an additional 42 shares during the last quarter. Cullen Frost Bankers Inc. increased its holdings in Alphabet by 0.4% during the first quarter. Cullen Frost Bankers Inc. now owns 36,177 shares of the information services provider’s stock worth $30,670,000 after buying an additional 150 shares during the last quarter. Finally, Bourgeon Capital Management LLC increased its holdings in Alphabet by 1.0% during the first quarter. Bourgeon Capital Management LLC now owns 6,728 shares of the information services provider’s stock worth $5,704,000 after buying an additional 65 shares during the last quarter. 33.62% of the stock is currently owned by hedge funds and other institutional investors.

GOOGL has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $1,075.00 target price on shares of Alphabet in a report on Monday, September 25th. UBS restated a “buy” rating and set a $1,080.00 target price on shares of Alphabet in a report on Friday, September 8th. Jefferies Group restated a “buy” rating and set a $1,200.00 target price 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 shares of 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 research analyst has rated the stock with a sell rating, seven have given a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,089.17.

Alphabet Inc (NASDAQ GOOGL) traded up $13.12 during trading on Wednesday, hitting $1,032.72. The stock had a trading volume of 1,430,608 shares, compared to its average volume of 1,630,100. Alphabet Inc has a one year low of $773.53 and a one year high of $1,080.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market capitalization of $715,110.00, a P/E ratio of 33.88, a P/E/G ratio of 1.70 and a beta of 0.90.

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 Thomson Reuters’ consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to the consensus estimate 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 prior year, the firm posted $9.06 earnings per share. equities research analysts predict that Alphabet Inc will post 32.34 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece of content can be viewed at https://ledgergazette.com/2017/12/07/william-blair-investment-management-llc-has-320-34-million-position-in-alphabet-inc-googl.html.

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)

Receive News & Ratings for Alphabet Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply