Retirement Systems of Alabama Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Retirement Systems of Alabama increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,707 shares of the information services provider’s stock after acquiring an additional 686 shares during the quarter. Alphabet makes up about 1.3% of Retirement Systems of Alabama’s holdings, making the stock its 7th biggest position. Retirement Systems of Alabama’s holdings in Alphabet were worth $247,022,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GOOGL. State Street Corp increased its stake in Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after buying an additional 142,214 shares during the period. Bank of Montreal Can increased its stake in Alphabet by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock valued at $1,017,719,000 after buying an additional 8,375 shares during the period. Fisher Asset Management LLC increased its stake in Alphabet by 2.6% in the 1st quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock valued at $908,302,000 after buying an additional 27,598 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Alphabet by 4.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 994,541 shares of the information services provider’s stock valued at $843,172,000 after buying an additional 45,805 shares during the period. Finally, Boston Partners increased its stake in Alphabet by 9.9% in the 1st quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock valued at $823,046,000 after buying an additional 87,783 shares during the period. 33.87% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Retirement Systems of Alabama Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://stocknewstimes.com/2017/11/11/alphabet-inc-googl-is-retirement-systems-of-alabamas-7th-largest-position.html.

Several equities research analysts have commented on the stock. B. Riley restated a “buy” rating and set a $1,050.00 target price on shares of Alphabet in a research report on Sunday, July 30th. MKM Partners reiterated a “buy” rating and issued a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. 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. UBS AG reiterated a “buy” rating and issued a $1,080.00 price objective (up from $1,050.00) on shares of Alphabet in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $1,088.53.

Shares of Alphabet Inc. (GOOGL) traded down $3.57 during midday trading on Friday, reaching $1,044.15. The company’s stock had a trading volume of 972,100 shares, compared to its average volume of 1,643,651. Alphabet Inc. has a 1 year low of $743.59 and a 1 year high of $1,063.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market capitalization of $727,956.94, a price-to-earnings ratio of 35.08, a PEG ratio of 1.77 and a beta of 0.91.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same period last year, the company earned $9.06 earnings per share. equities research analysts predict that Alphabet Inc. will post 32.15 earnings per share for the current year.

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply