Premier Fund Managers Ltd Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Premier Fund Managers Ltd reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,830 shares of the information services provider’s stock after selling 640 shares during the period. Premier Fund Managers Ltd’s holdings in Alphabet were worth $12,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Frisch Financial Group Inc. grew its holdings in Alphabet by 6,039.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 312,631 shares of the information services provider’s stock worth $12,126,000 after acquiring an additional 307,539 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Alphabet by 0.7% during the 3rd quarter. Mutual of America Capital Management LLC now owns 39,505 shares of the information services provider’s stock worth $105,617,000 after purchasing an additional 260 shares during the period. German American Bancorp Inc. boosted its stake in Alphabet by 3.3% during the 3rd quarter. German American Bancorp Inc. now owns 9,440 shares of the information services provider’s stock worth $25,238,000 after purchasing an additional 301 shares during the period. Panagora Asset Management Inc. boosted its stake in Alphabet by 2.6% during the 3rd quarter. Panagora Asset Management Inc. now owns 131,896 shares of the information services provider’s stock worth $352,627,000 after purchasing an additional 3,374 shares during the period. Finally, ARGI Investment Services LLC boosted its stake in Alphabet by 5.7% during the 3rd quarter. ARGI Investment Services LLC now owns 878 shares of the information services provider’s stock worth $2,347,000 after purchasing an additional 47 shares during the period. 34.24% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on GOOGL shares. Raymond James increased their price target on shares of Alphabet from $3,200.00 to $3,400.00 and gave the company an “outperform” rating in a report on Wednesday, October 27th. Morgan Stanley raised their price target on shares of Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 2nd. Wedbush raised their target price on shares of Alphabet from $3,424.00 to $3,530.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Cowen raised their target price on shares of Alphabet from $3,300.00 to $3,360.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 27th. Finally, BMO Capital Markets raised their price target on shares of Alphabet from $3,000.00 to $3,200.00 and gave the company an “outperform” rating in a report on Wednesday, October 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus price target of $3,237.31.

Shares of Alphabet stock traded up $22.97 on Friday, hitting $2,794.71. 57,126 shares of the company’s stock traded hands, compared to its average volume of 1,393,064. Alphabet Inc. has a one year low of $1,711.71 and a one year high of $3,019.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.98 and a quick ratio of 2.96. The company has a fifty day moving average of $2,897.92 and a two-hundred day moving average of $2,793.83. The company has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 earnings per share for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. Alphabet had a return on equity of 30.22% and a net margin of 29.52%. The business had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.80 billion. During the same period in the prior year, the business earned $16.40 EPS. Equities research analysts anticipate that Alphabet Inc. will post 108.29 earnings per share for the current year.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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