Stearns Financial Services Group cut its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,205 shares of the information services provider’s stock after selling 127 shares during the period. Stearns Financial Services Group’s holdings in Alphabet were worth $1,173,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new stake in shares of Alphabet in the 2nd quarter valued at about $102,000. Parkside Financial Bank & Trust raised its holdings in shares of Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 36 shares in the last quarter. Odey Holdings AG raised its stake in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Lloyds Banking Group plc bought a new position in shares of Alphabet during the 2nd quarter worth approximately $133,000. Finally, Farmers National Bank raised its stake in shares of Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after acquiring an additional 4 shares in the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently commented on GOOGL shares. Goldman Sachs Group boosted their price objective on shares of Alphabet from $1,125.00 to $1,175.00 in a research note on Friday, October 27th. Citigroup restated a “buy” rating and set a $1,180.00 price target on shares of Alphabet in a research note on Wednesday, September 20th. SunTrust Banks restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Saturday, September 23rd. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Thursday, September 21st. Finally, Bank of America restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,098.50.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. During the same period in the prior year, the business earned $9.06 earnings per share. sell-side analysts expect that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.
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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