Flagship Harbor Advisors LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,455 shares of the information services provider’s stock after selling 34 shares during the period. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $1,776,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Alphabet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,536,432 shares of the information services provider’s stock worth $24,402,449,000 after acquiring an additional 302,354 shares during the period. Invesco Ltd. boosted its holdings in shares of Alphabet by 37.1% in the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock valued at $5,145,551,000 after purchasing an additional 1,285,824 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Alphabet by 0.9% in the 2nd quarter. Northern Trust Corp now owns 3,876,945 shares of the information services provider’s stock valued at $4,197,956,000 after purchasing an additional 33,408 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Alphabet by 205,910.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after purchasing an additional 3,391,353 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Alphabet by 3.0% in the 2nd quarter. Morgan Stanley now owns 2,301,237 shares of the information services provider’s stock valued at $2,491,779,000 after purchasing an additional 66,773 shares in the last quarter. Hedge funds and other institutional investors own 33.53% of the company’s stock.
A number of equities research analysts have weighed in on GOOGL shares. Bank of America reaffirmed a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a report on Thursday. Susquehanna Bancshares raised their target price on Alphabet to $1,550.00 in a report on Friday, July 26th. Oppenheimer set a $1,370.00 target price on Alphabet and gave the company a “buy” rating in a report on Friday, July 26th. KeyCorp reaffirmed an “overweight” rating and issued a $1,516.00 target price (up previously from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $1,700.00 target price (up previously from $1,500.00) on shares of Alphabet in a report on Wednesday. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $1,382.73.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. On average, equities research analysts anticipate that Alphabet Inc will post 51.22 earnings per share 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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