Foothills Asset Management Ltd. Has $2.11 Million Position in Alphabet Inc (GOOGL)

Foothills Asset Management Ltd. lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,022 shares of the information services provider’s stock after selling 40 shares during the period. Alphabet comprises 1.8% of Foothills Asset Management Ltd.’s holdings, making the stock its 22nd largest position. Foothills Asset Management Ltd.’s holdings in Alphabet were worth $2,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fosun International Ltd boosted its holdings in Alphabet by 12.5% during the 2nd quarter. Fosun International Ltd now owns 6,400 shares of the information services provider’s stock valued at $7,574,000 after acquiring an additional 710 shares during the period. Commonwealth Bank of Australia boosted its holdings in Alphabet by 11.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 9,893 shares of the information services provider’s stock valued at $11,164,000 after acquiring an additional 1,028 shares during the period. Altshuler Shaham Ltd boosted its holdings in Alphabet by 223,600.0% during the 2nd quarter. Altshuler Shaham Ltd now owns 2,237 shares of the information services provider’s stock valued at $2,525,000 after acquiring an additional 2,236 shares during the period. Unio Capital LLC boosted its holdings in Alphabet by 12.8% during the 2nd quarter. Unio Capital LLC now owns 3,325 shares of the information services provider’s stock valued at $3,755,000 after acquiring an additional 376 shares during the period. Finally, Abrams Capital Management L.P. purchased a new position in Alphabet during the 2nd quarter valued at about $140,152,000. 34.02% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on GOOGL shares. Canaccord Genuity upgraded Alphabet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,140.00 to $1,250.00 in a research note on Thursday, January 3rd. Zacks Investment Research cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 3rd. Pivotal Research upgraded Alphabet from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,010.00 to $1,240.00 in a research note on Monday, January 7th. ValuEngine cut Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, January 10th. Finally, UBS Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday, January 14th. Two investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,333.36.

GOOGL traded up $10.08 during trading on Friday, hitting $1,277.42. 1,266,566 shares of the stock were exchanged, compared to its average volume of 1,534,350. The firm has a market cap of $881.66 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,291.44. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping the consensus estimate of $11.08 by $1.69. The company had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same quarter in the previous year, the company posted $9.70 earnings per share. Equities analysts expect that Alphabet Inc will post 47.31 EPS for the current fiscal year.

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Alphabet Company 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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