Beach Investment Management LLC. cut its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 67.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690 shares of the information services provider’s stock after selling 1,430 shares during the quarter. Alphabet makes up 1.6% of Beach Investment Management LLC.’s portfolio, making the stock its 23rd largest position. Beach Investment Management LLC.’s holdings in Alphabet were worth $721,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOOGL. Vestor Capital LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $62,000. Lavaca Capital LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $97,000. Sound Income Strategies LLC raised its holdings in shares of Alphabet by 71.4% in the 4th quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock valued at $100,000 after purchasing an additional 40 shares during the period. Quantamental Technologies LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $103,000. Finally, CX Institutional raised its holdings in shares of Alphabet by 93.1% in the 4th quarter. CX Institutional now owns 112 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 54 shares during the period. 34.12% of the stock is currently owned by hedge funds and other institutional investors.
GOOGL has been the topic of a number of research analyst reports. Nomura reaffirmed an “outperform” rating on shares of Alphabet in a report on Wednesday, February 6th. JMP Securities reaffirmed an “outperform” rating and issued a $1,375.00 target price (up from $1,300.00) on shares of Alphabet in a report on Tuesday, April 30th. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price on the stock. in a report on Tuesday, April 30th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 target price on the stock in a report on Monday, January 28th. Finally, Wells Fargo & Co set a $1,300.00 price target on shares of Alphabet and gave the company a “buy” rating in a research note on Tuesday, February 5th. Five equities research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $1,328.88.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $10.56 by $1.34. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The firm had revenue of $29.48 billion for the quarter, compared to analyst estimates of $29.99 billion. During the same quarter in the prior year, the business posted $13.33 EPS. Equities analysts expect that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.
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.
Further Reading: Short Selling Stocks, A Beginner’s Guide
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.