Nippon Life Global Investors Americas Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,109 shares of the information services provider’s stock after selling 820 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Alphabet were worth $11,961,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOGL. Delta Asset Management LLC TN raised its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in shares of Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock valued at $135,000 after buying an additional 1 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Alphabet by 22.6% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 179 shares of the information services provider’s stock valued at $152,000 after buying an additional 33 shares during the last quarter. Finally, Cordasco Financial Network raised its stake in shares of Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock valued at $199,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 34.31% of the company’s stock.

Alphabet Inc. (GOOGL) traded up 0.70% during midday trading on Friday, reaching $930.09. 1,616,708 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $956.22 and a 200-day moving average of $908.99. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The stock has a market cap of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by $3.24. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period last year, the business posted $8.42 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post $30.59 earnings per share for the current year.

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Several equities research analysts have issued reports on GOOGL shares. B. Riley reiterated a “buy” rating and issued a $1,032.00 price target on shares of Alphabet in a research note on Friday, April 28th. MKM Partners reiterated a “buy” rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, April 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, April 18th. Instinet reiterated a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research note on Tuesday, April 25th. Finally, Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $962.00 price target on the stock in a research note on Tuesday, April 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $1,049.20.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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