Harvard Management Co. Inc. cut its stake in Alphabet Inc (NASDAQ:GOOGL) by 58.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,069 shares of the information services provider’s stock after selling 38,766 shares during the quarter. Alphabet comprises about 5.1% of Harvard Management Co. Inc.’s holdings, making the stock its 4th largest position. Harvard Management Co. Inc.’s holdings in Alphabet were worth $32,615,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Stephenson National Bank & Trust purchased a new position in Alphabet during the fourth quarter worth about $27,000. Cox Capital Mgt LLC purchased a new position in Alphabet during the first quarter worth about $27,000. TFO TDC LLC purchased a new position in Alphabet during the fourth quarter worth about $32,000. BigSur Wealth Management LLC purchased a new position in Alphabet during the fourth quarter worth about $33,000. Finally, HighMark Wealth Management LLC purchased a new position in Alphabet during the fourth quarter worth about $34,000. Institutional investors own 34.29% of the company’s stock.
GOOGL has been the subject of several recent analyst reports. SunTrust Banks boosted their target price on Alphabet from $1,350.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. They noted that the move was a valuation call. Pivotal Research reduced their target price on Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Barclays upped their price objective on Alphabet from $1,300.00 to $1,400.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Societe Generale cut their price objective on Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating for the company in a report on Wednesday, April 8th. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on Alphabet from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a hold rating and forty-three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $1,505.34.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the consensus estimate of $11.16 by ($1.29). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The business had revenue of $33.71 billion during the quarter, compared to analysts’ expectations of $32.59 billion. During the same quarter last year, the business posted $9.50 EPS. Sell-side analysts predict that Alphabet Inc will post 41.47 earnings per share for the current 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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