Amalgamated Bank lifted its stake in Alphabet Inc (NASDAQ:GOOGL) by 2.2% during the third quarter, Holdings Channel reports. The firm owned 35,925 shares of the information services provider’s stock after purchasing an additional 788 shares during the period. Alphabet accounts for about 1.1% of Amalgamated Bank’s holdings, making the stock its 10th largest position. Amalgamated Bank’s holdings in Alphabet were worth $34,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Capital Partners Inc. grew its holdings in Alphabet by 0.8% during the 2nd quarter. Legacy Capital Partners Inc. now owns 600 shares of the information services provider’s stock worth $558,000 after acquiring an additional 5 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Alphabet by 3.9% during the 2nd quarter. CIBC Asset Management Inc now owns 32,627 shares of the information services provider’s stock worth $30,333,000 after acquiring an additional 1,215 shares in the last quarter. Lourd Capital LLC grew its holdings in Alphabet by 5.3% during the 2nd quarter. Lourd Capital LLC now owns 1,065 shares of the information services provider’s stock worth $990,000 after acquiring an additional 54 shares in the last quarter. Lyell Wealth Management LP grew its holdings in Alphabet by 2.9% during the 2nd quarter. Lyell Wealth Management LP now owns 4,822 shares of the information services provider’s stock worth $4,483,000 after acquiring an additional 134 shares in the last quarter. Finally, Grandfield & Dodd LLC grew its holdings in Alphabet by 12.8% during the 2nd quarter. Grandfield & Dodd LLC now owns 1,118 shares of the information services provider’s stock worth $1,039,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 33.60% of the company’s stock.

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

Shares of Alphabet Inc (GOOGL) opened at $1,054.14 on Wednesday. Alphabet Inc has a one year low of $824.30 and a one year high of $1,198.00. The stock has a market cap of $731,640.00, a price-to-earnings ratio of 58.69, a P/E/G ratio of 1.08 and a beta of 0.95. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $25.87 billion during the quarter, compared to analyst estimates of $25.65 billion. equities analysts expect that Alphabet Inc will post 42.51 earnings per share for the current fiscal year.

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

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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