Rafferty Asset Management LLC Has $8.12 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Rafferty Asset Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,038 shares of the information services provider’s stock after selling 484 shares during the period. Rafferty Asset Management LLC’s holdings in Alphabet were worth $8,122,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Meitav Dash Investments Ltd. increased its stake in shares of Alphabet by 13.3% during the 2nd quarter. Meitav Dash Investments Ltd. now owns 19,360 shares of the information services provider’s stock worth $47,273,000 after purchasing an additional 2,268 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Alphabet by 10.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 66,103 shares of the information services provider’s stock worth $161,410,000 after purchasing an additional 6,326 shares during the last quarter. Bienville Capital Management LLC increased its stake in shares of Alphabet by 49.0% during the 2nd quarter. Bienville Capital Management LLC now owns 2,128 shares of the information services provider’s stock worth $5,196,000 after purchasing an additional 700 shares during the last quarter. Bellwether Advisors LLC increased its stake in shares of Alphabet by 4.0% during the 2nd quarter. Bellwether Advisors LLC now owns 104 shares of the information services provider’s stock worth $253,000 after purchasing an additional 4 shares during the last quarter. Finally, Semmax Financial Advisors Inc. increased its stake in shares of Alphabet by 6.2% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 2,167 shares of the information services provider’s stock worth $5,291,000 after purchasing an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 34.24% of the company’s stock.

Alphabet stock opened at $2,789.61 on Friday. Alphabet Inc. has a 1-year low of $1,711.71 and a 1-year high of $3,019.33. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 0.95 and a beta of 1.06. The firm’s fifty day moving average price is $2,894.18 and its two-hundred day moving average price is $2,796.18. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, October 25th. The information services provider reported $27.99 earnings per share for the quarter, beating analysts’ consensus estimates of $23.13 by $4.86. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The firm had revenue of $53.62 billion for the quarter, compared to analyst estimates of $51.80 billion. During the same period last year, the firm earned $16.40 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 108.29 EPS for the current year.

A number of brokerages recently commented on GOOGL. Monness Crespi & Hardt upped their price target on shares of Alphabet from $3,500.00 to $3,660.00 and gave the company a “buy” rating in a research note on Wednesday, October 27th. UBS Group began coverage on shares of Alphabet in a research note on Thursday, December 2nd. They issued a “buy” rating and a $3,925.00 price target on the stock. Citigroup upped their price target on shares of Alphabet from $2,825.00 to $2,965.00 and gave the company a “neutral” rating in a research note on Thursday, October 28th. Credit Suisse Group upped their price target on shares of Alphabet from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. Finally, Barclays upped their price target on shares of Alphabet from $3,200.00 to $3,300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $3,237.31.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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