CWM LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,947 shares of the information services provider’s stock after selling 466 shares during the period. CWM LLC’s holdings in Alphabet were worth $2,739,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth about $2,411,505,000. Glenview Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $605,119,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alphabet during the fourth quarter worth about $341,958,000. Dodge & Cox acquired a new stake in shares of Alphabet during the fourth quarter worth about $260,940,000. Finally, Investec Asset Management LTD increased its stake in shares of Alphabet by 62.7% in the first quarter. Investec Asset Management LTD now owns 621,109 shares of the information services provider’s stock worth $526,576,000 after buying an additional 239,390 shares during the period. 34.12% of the stock is owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.16% during mid-day trading on Friday, reaching $926.18. 1,337,404 shares of the company’s stock traded hands. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The company’s 50 day moving average is $952.84 and its 200 day moving average is $911.41. The company has a market cap of $641.73 billion, a P/E ratio of 33.57 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter last year, the company earned $8.42 EPS. On average, analysts predict that Alphabet Inc. will post $30.60 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on the company. Wedbush reiterated an “underperform” rating and issued a $725.00 price objective (up previously from $700.00) on shares of Alphabet in a research report on Saturday, April 29th. J P Morgan Chase & Co increased their target price on Alphabet from $1,075.00 to $1,115.00 and gave the company an “overweight” rating in a research note on Saturday, July 22nd. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 target price on the stock in a research note on Tuesday, July 25th. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and increased their target price for the company from $967.93 to $1,000.00 in a research note on Thursday, June 15th. Finally, FBR & Co reissued an “outperform” rating and issued a $1,050.00 target price (up previously from $1,032.00) on shares of Alphabet in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,053.45.
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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