Mar Vista Investment Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 22.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 795 shares of the information services provider’s stock after selling 234 shares during the period. Mar Vista Investment Partners LLC’s holdings in Alphabet were worth $674,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in GOOGL. Delta Asset Management LLC TN raised its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares during the period. Jackson Grant Investment Advisers Inc. raised its stake in shares of Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Alphabet by 22.6% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 179 shares of the information services provider’s stock worth $152,000 after buying an additional 33 shares during the period. Finally, Cordasco Financial Network raised its stake in shares of Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock worth $199,000 after buying an additional 5 shares during the period. 34.37% of the stock is currently owned by institutional investors.
Alphabet Inc. (NASDAQ GOOGL) opened at 945.79 on Friday. The stock has a 50 day moving average price of $963.05 and a 200-day moving average price of $904.34. The firm has a market capitalization of $655.32 billion, a PE ratio of 34.28 and a beta of 0.99. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by $3.24. The company 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 quarter last year, the firm posted $8.42 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.
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A number of equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “underperform” rating and set a $725.00 target price (up from $700.00) on shares of Alphabet in a research report on Saturday, April 29th. J P Morgan Chase & Co boosted their target price on Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research report 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 report on Tuesday, July 25th. Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and boosted their target price for the stock from $967.93 to $1,000.00 in a research report on Thursday, June 15th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $1,050.00 target price (up from $1,032.00) on shares of Alphabet in a research report on Tuesday, July 25th. One investment 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 assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,043.51.
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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