Veritas Investment Management UK Ltd lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 31.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,710 shares of the information services provider’s stock after selling 2,567 shares during the quarter. Alphabet accounts for about 1.9% of Veritas Investment Management UK Ltd’s investment portfolio, making the stock its 17th largest holding. Veritas Investment Management UK Ltd’s holdings in Alphabet were worth $5,967,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. FMR LLC boosted its stake in shares of Alphabet by 5.5% during the 3rd quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after buying an additional 858,589 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 worth $3,968,570,000 after buying an additional 3,284,967 shares during the period. Jennison Associates LLC increased its position in Alphabet by 10.4% in the third quarter. Jennison Associates LLC now owns 1,922,845 shares of the information services provider’s stock worth $2,321,028,000 after buying an additional 181,916 shares during the period. Rehmann Capital Advisory Group increased its position in 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 worth $2,137,263,000 after buying an additional 1,813,265 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Alphabet by 6.0% in the third quarter. TIAA CREF Investment Management LLC now owns 1,671,001 shares of the information services provider’s stock worth $2,017,032,000 after buying an additional 95,096 shares during the period. 33.56% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:GOOGL opened at $1,147.89 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The firm has a market capitalization of $801.46 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.36 and a beta of 1.03.
Several brokerages have weighed in on GOOGL. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, February 18th. Argus reissued a “buy” rating and set a $1,450.00 price target on shares of Alphabet in a report on Wednesday, May 1st. Morgan Stanley lowered their price target on Alphabet from $1,500.00 to $1,425.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. They noted that the move was a valuation call. Deutsche Bank raised their price target on Alphabet from $1,300.00 to $1,400.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Finally, ValuEngine raised Alphabet from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $1,328.88.
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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