Consolidated Investment Group LLC continued to hold its position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,609 shares of the information services provider’s stock at the end of the first quarter. Alphabet comprises 2.2% of Consolidated Investment Group LLC’s holdings, making the stock its 15th largest position. Consolidated Investment Group LLC’s holdings in Alphabet were worth $3,908,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $2,411,505,000. Glenview Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $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 approximately $341,958,000. Dodge & Cox purchased a new position in shares of Alphabet during the fourth quarter worth about $260,940,000. Finally, Tourbillon Capital Partners L.P. purchased a new position in shares of Alphabet during the fourth quarter worth about $174,339,000. 34.37% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ:GOOGL) traded up 0.38% on Tuesday, reaching $949.12. The company had a trading volume of 335,632 shares. The stock has a 50 day moving average of $963.49 and a 200 day moving average of $903.50. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The firm has a market capitalization of $657.63 billion, a PE ratio of 34.40 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share 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 net margin of 19.49% and a return on equity of 13.66%. During the same period in the prior year, the firm earned $8.42 earnings per share. On average, analysts anticipate that Alphabet Inc. will post $30.63 EPS for the current year.
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GOOGL has been the topic of a number of analyst reports. BMO Capital Markets cut shares of Alphabet from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $1,005.00 to $880.00 in a research note on Tuesday, April 4th. FBN Securities dropped their price target on shares of Alphabet from $1,050.00 to $1,025.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $902.63 price target on the stock in a research note on Monday, April 10th. Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, April 17th. Finally, Jefferies Group LLC restated a “buy” rating and set a $1,000.00 target price on shares of Alphabet in a research note on Tuesday, April 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,043.51.
About Alphabet
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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