Alberta Investment Management Corp lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,200 shares of the information services provider’s stock after selling 300 shares during the quarter. Alberta Investment Management Corp’s holdings in Alphabet were worth $49,090,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet during the second quarter valued at approximately $37,000. Garrett Wealth Advisory Group LLC bought a new position in shares of Alphabet during the third quarter valued at approximately $39,000. Lipe & Dalton bought a new position in shares of Alphabet during the second quarter valued at approximately $49,000. Johnson Financial Group Inc. grew its holdings in shares of Alphabet by 26.3% during the second quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 10 shares during the last quarter. Finally, Vista Private Wealth Partners. LLC bought a new position in shares of Alphabet during the third quarter valued at approximately $60,000. Institutional investors own 33.53% of the company’s stock.
Several equities analysts have recently commented on the company. Raymond James set a $1,360.00 target price on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. FBN Securities set a $1,400.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Monness Crespi & Hardt set a $1,360.00 price objective on Alphabet and gave the stock a “buy” rating in a report on Monday. Credit Suisse Group reissued an “outperform” rating and issued a $1,700.00 price objective (up from $1,500.00) on shares of Alphabet in a report on Wednesday. They noted that the move was a valuation call. Finally, MKM Partners reissued a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,382.73.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The firm had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. Equities analysts expect that Alphabet Inc will post 51.22 EPS for the current fiscal year.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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