Alphabet Inc (GOOGL) Stake Increased by Sky Investment Group LLC

Sky Investment Group LLC grew its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,822 shares of the information services provider’s stock after acquiring an additional 271 shares during the period. Sky Investment Group LLC’s holdings in Alphabet were worth $1,904,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Bank of New York Mellon Corp raised its holdings in shares of Alphabet by 118,334.5% in the third quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock valued at $3,968,570,000 after acquiring an additional 3,284,967 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in shares of Alphabet by 118,282.1% in the third quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock valued at $2,137,263,000 after acquiring an additional 1,813,265 shares in the last quarter. Packer & Co Ltd bought a new stake in shares of Alphabet in the fourth quarter valued at about $21,605,000. FMR LLC raised its holdings in shares of Alphabet by 5.5% in the third quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after acquiring an additional 858,589 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in shares of Alphabet by 1,075.1% in the third quarter. Glenmede Trust Co. NA now owns 707,057 shares of the information services provider’s stock valued at $853,473,000 after acquiring an additional 646,889 shares in the last quarter. 33.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet stock opened at $1,241.47 on Monday. The stock has a market capitalization of $863.05 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. Alphabet Inc has a one year low of $977.66 and a one year high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping the Zacks’ consensus estimate of $11.08 by $1.69. The business had revenue of $31.84 billion during the quarter, compared to the consensus estimate of $31.28 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. During the same period in the previous year, the company posted $9.70 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc will post 47.31 EPS for the current year.

GOOGL has been the subject of several recent research reports. ValuEngine downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. SunTrust Banks decreased their price objective on Alphabet to $1,350.00 and set a “buy” rating for the company in a report on Tuesday, February 5th. They noted that the move was a valuation call. Deutsche Bank restated a “buy” rating and issued a $1,300.00 price objective on shares of Alphabet in a report on Wednesday, January 23rd. Needham & Company LLC initiated coverage on Alphabet in a report on Monday, March 4th. They issued a “buy” rating and a $1,153.42 price objective for the company. Finally, Wells Fargo & Co set a $1,300.00 price objective on Alphabet and gave the company a “buy” rating in a report on Tuesday, February 5th. Two equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,329.91.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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