Wasatch Advisors Inc. Sells 1,443 Shares of Alphabet Inc (GOOGL)

Wasatch Advisors Inc. lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 36.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,538 shares of the information services provider’s stock after selling 1,443 shares during the quarter. Wasatch Advisors Inc.’s holdings in Alphabet were worth $2,471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Bank & Trust grew its holdings in Alphabet by 0.3% during the 2nd quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after buying an additional 2 shares in the last quarter. Fort Pitt Capital Group LLC boosted its position in shares of Alphabet by 0.3% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock valued at $672,000 after acquiring an additional 2 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Alphabet by 0.7% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 422 shares of the information services provider’s stock valued at $392,000 after acquiring an additional 3 shares during the last quarter. Probity Advisors Inc. boosted its position in shares of Alphabet by 1.1% during the 2nd quarter. Probity Advisors Inc. now owns 270 shares of the information services provider’s stock valued at $251,000 after acquiring an additional 3 shares during the last quarter. Finally, Glassman Wealth Services boosted its position in shares of Alphabet by 0.8% during the 2nd quarter. Glassman Wealth Services now owns 376 shares of the information services provider’s stock valued at $350,000 after acquiring an additional 3 shares during the last quarter. 33.61% of the stock is owned by institutional investors.

Shares of Alphabet Inc (NASDAQ:GOOGL) traded up $38.56 during mid-day trading on Friday, reaching $1,046.27. The company’s stock had a trading volume of 4,436,032 shares, compared to its average volume of 2,120,000. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 12-month low of $824.30 and a 12-month high of $1,198.00. The company has a market capitalization of $724,120.00, a P/E ratio of 58.26, a P/E/G ratio of 1.08 and a beta of 0.95.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The business had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. equities analysts forecast that Alphabet Inc will post 42.51 EPS for the current year.

Alphabet declared that its board has initiated a stock buyback plan on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

A number of analysts have recently issued reports on the company. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. William Blair reiterated an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price target for the company in a research report on Monday, February 5th. Barclays lifted their price target on Alphabet from $1,260.00 to $1,330.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price for the company. in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,157.02.

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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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