Princeton Global Asset Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,707 shares of the information services provider’s stock after selling 5 shares during the quarter. Alphabet accounts for about 1.7% of Princeton Global Asset Management LLC’s holdings, making the stock its 12th largest holding. Princeton Global Asset Management LLC’s holdings in Alphabet were worth $4,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Corundum Group Inc. grew its position in Alphabet by 3.0% in the fourth quarter. Corundum Group Inc. now owns 174 shares of the information services provider’s stock worth $305,000 after acquiring an additional 5 shares during the period. McIlrath & Eck LLC grew its position in Alphabet by 1.0% in the third quarter. McIlrath & Eck LLC now owns 623 shares of the information services provider’s stock worth $913,000 after acquiring an additional 6 shares during the period. Family Firm Inc. lifted its stake in Alphabet by 1.9% during the fourth quarter. Family Firm Inc. now owns 319 shares of the information services provider’s stock worth $551,000 after purchasing an additional 6 shares in the last quarter. Aries Wealth Management lifted its stake in Alphabet by 0.5% during the fourth quarter. Aries Wealth Management now owns 1,196 shares of the information services provider’s stock worth $2,150,000 after purchasing an additional 6 shares in the last quarter. Finally, Manchester Financial Inc. lifted its stake in Alphabet by 4.1% during the fourth quarter. Manchester Financial Inc. now owns 153 shares of the information services provider’s stock worth $268,000 after purchasing an additional 6 shares in the last quarter. 33.79% of the stock is owned by institutional investors.

Shares of NASDAQ GOOGL traded down $10.29 during midday trading on Tuesday, reaching $2,043.97. 47,731 shares of the company were exchanged, compared to its average volume of 1,957,420. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $1,008.87 and a 1 year high of $2,145.14. The stock has a fifty day simple moving average of $1,913.73 and a 200 day simple moving average of $1,700.78. The stock has a market cap of $1.38 trillion, a P/E ratio of 39.70, a PEG ratio of 1.65 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $15.90 by $6.40. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm had revenue of $46.43 billion for the quarter, compared to analyst estimates of $44.09 billion. During the same quarter last year, the company posted $15.35 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 52.19 earnings per share for the current year.

Several analysts have recently issued reports on GOOGL shares. Truist increased their price objective on Alphabet from $2,000.00 to $2,100.00 in a research note on Monday, February 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Stifel Nicolaus reiterated a “hold” rating and issued a $2,025.00 price objective (up from $1,700.00) on shares of Alphabet in a research note on Tuesday, February 2nd. Credit Suisse Group increased their price objective on Alphabet from $2,000.00 to $2,360.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. Finally, Wedbush increased their price objective on Alphabet from $2,150.00 to $2,470.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. Three analysts have rated the stock with a hold rating and forty have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $2,059.56.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: When is a capital gain realized?

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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