Pensionfund Sabic Continues to Hold Holdings in Alphabet Inc. (GOOGL)
Pensionfund Sabic maintained its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,080 shares of the information services provider’s stock at the close of the 2nd quarter. Alphabet accounts for about 1.2% of Pensionfund Sabic’s portfolio, making the stock its 9th largest position. Pensionfund Sabic’s holdings in Alphabet were worth $3,793,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $108,000. Delta Asset Management LLC TN raised its holdings in shares of Alphabet by 1.5% during the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares in the last quarter. Farmers National Bank raised its holdings in shares of Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in shares of Alphabet by 58.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 56 shares in the last quarter. Finally, Jacobi Capital Management LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $132,000. Hedge funds and other institutional investors own 33.88% of the company’s stock.
A number of equities analysts recently commented on the company. J P Morgan Chase & Co upped their target price on Alphabet from $1,075.00 to $1,115.00 and gave the company an “overweight” rating in a report on Saturday, July 22nd. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 target price for the company in a report on Tuesday, July 25th. UBS AG reaffirmed an “overweight” rating on shares of Alphabet in a research note on Thursday, August 24th. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and upped their price target for the stock from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $1,050.00 price target (up from $1,032.00) on shares of Alphabet in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,053.45.
Shares of Alphabet Inc. (NASDAQ GOOGL) traded up 0.33% during trading on Wednesday, hitting $949.76. The stock had a trading volume of 619,412 shares. The stock’s 50-day moving average is $942.30 and its 200-day moving average is $925.56. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The stock has a market cap of $658.07 billion, a price-to-earnings ratio of 34.42 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period in the prior year, the business earned $8.42 EPS. On average, equities research analysts expect that Alphabet Inc. will post $30.59 EPS for the current year.
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Alphabet Company 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.
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