Alphabet Inc. (NASDAQ:GOOGL) Stock Position Trimmed by Longview Partners Guernsey LTD

Longview Partners Guernsey LTD cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 389,249 shares of the information services provider’s stock after selling 36,127 shares during the quarter. Alphabet comprises approximately 5.2% of Longview Partners Guernsey LTD’s portfolio, making the stock its 4th biggest holding. Longview Partners Guernsey LTD’s holdings in Alphabet were worth $950,464,000 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. FMR LLC raised its holdings in shares of Alphabet by 0.9% in the 2nd quarter. FMR LLC now owns 13,134,972 shares of the information services provider’s stock worth $32,072,840,000 after purchasing an additional 118,821 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 2.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,329,607 shares of the information services provider’s stock worth $15,117,461,000 after purchasing an additional 145,732 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alphabet by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 5,058,794 shares of the information services provider’s stock worth $12,317,675,000 after purchasing an additional 119,059 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,234,389 shares of the information services provider’s stock worth $6,670,993,000 after purchasing an additional 10,002 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Alphabet by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 1,940,270 shares of the information services provider’s stock worth $4,737,726,000 after purchasing an additional 33,699 shares during the period. Hedge funds and other institutional investors own 34.43% of the company’s stock.

A number of equities research analysts have recently issued reports on GOOGL shares. Canaccord Genuity increased their target price on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Stifel Nicolaus increased their target price on Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. BMO Capital Markets increased their target price on Alphabet from $2,700.00 to $3,000.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Jefferies Financial Group increased their target price on Alphabet from $3,150.00 to $3,325.00 and gave the company a “buy” rating in a research note on Friday, September 17th. They noted that the move was a valuation call. Finally, Mizuho raised their price objective on Alphabet from $2,800.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $2,884.67.

Shares of Alphabet stock traded up $65.50 on Thursday, reaching $2,817.14. 57,833 shares of the company were exchanged, compared to its average volume of 1,525,323. The stock has a fifty day moving average price of $2,793.11 and a 200-day moving average price of $2,531.99. The firm has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a fifty-two week low of $1,508.48 and a fifty-two week high of $2,925.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $19.89 by $7.37. The company had revenue of $50.95 billion for the quarter, compared to analyst estimates of $46.07 billion. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. During the same period in the previous year, the firm earned $10.13 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 101.86 earnings per share for the current fiscal year.

Alphabet Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Further Reading: Stocks Increasing Dividends

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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