Giverny Capital Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,933 shares of the information services provider’s stock after selling 50 shares during the period. Alphabet makes up approximately 0.8% of Giverny Capital Inc.’s holdings, making the stock its 17th largest position. Giverny Capital Inc.’s holdings in Alphabet were worth $5,030,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new position in Alphabet during the fourth quarter valued at about $2,411,505,000. Glenview Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $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 $341,958,000. Dodge & Cox acquired a new stake in shares of Alphabet during the fourth quarter worth $260,940,000. Finally, Tourbillon Capital Partners L.P. acquired a new stake in shares of Alphabet during the fourth quarter worth $174,339,000. Hedge funds and other institutional investors own 34.12% of the company’s stock.
Alphabet Inc. (GOOGL) opened at 926.18 on Friday. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The company’s 50-day moving average price is $952.51 and its 200-day moving average price is $912.15. The stock 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 announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period in the previous year, the business earned $8.42 EPS. Analysts forecast that Alphabet Inc. will post $30.60 EPS for the current fiscal year.
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A number of analysts recently commented on the company. UBS AG reiterated a “buy” rating and issued a $1,050.00 price objective (up from $980.00) on shares of Alphabet in a research report on Saturday, April 29th. B. Riley reiterated a “buy” rating and issued a $1,032.00 price objective on shares of Alphabet in a research report on Wednesday, May 3rd. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research report on Thursday, August 10th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. Finally, SunTrust Banks, Inc. initiated coverage on Alphabet in a report on Tuesday. They set a “buy” rating and a $1,100.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company 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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