American International Group Inc. lowered its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,227 shares of the information services provider’s stock after selling 4,675 shares during the quarter. American International Group Inc.’s holdings in Alphabet were worth $122,910,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Morningstar Investment Services LLC grew its position in shares of Alphabet by 11.5% in the third quarter. Morningstar Investment Services LLC now owns 38,382 shares of the information services provider’s stock valued at $37,373,000 after purchasing an additional 3,954 shares in the last quarter. Sphera Funds Management LTD. grew its position in shares of Alphabet by 32.7% in the third quarter. Sphera Funds Management LTD. now owns 5,767 shares of the information services provider’s stock valued at $5,615,000 after purchasing an additional 1,421 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in shares of Alphabet by 16.1% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 66,000 shares of the information services provider’s stock valued at $64,266,000 after purchasing an additional 9,140 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Alphabet by 1.5% in the third quarter. Oppenheimer & Co. Inc. now owns 28,571 shares of the information services provider’s stock valued at $27,820,000 after purchasing an additional 424 shares in the last quarter. Finally, Capital Planning Advisors LLC grew its position in shares of Alphabet by 8.3% in the third quarter. Capital Planning Advisors LLC now owns 5,857 shares of the information services provider’s stock valued at $5,703,000 after purchasing an additional 448 shares in the last quarter. 33.61% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald restated a “buy” rating and issued a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, October 24th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research report on Tuesday, December 26th. SunTrust Banks lowered their price objective on Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Cowen increased their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 price objective for the company in a research report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Alphabet presently has an average rating of “Buy” and a consensus price target of $1,157.02.

Shares of Alphabet Inc (NASDAQ GOOGL) opened at $1,055.41 on Thursday. The stock has a market capitalization of $732,000.00, a price-to-earnings ratio of 58.76, a PEG ratio of 1.09 and a beta of 0.95. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 52 week low of $824.30 and a 52 week high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.12 by ($0.42). The company had revenue of $25.87 billion during the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. analysts anticipate that Alphabet Inc will post 42.68 EPS for the current year.

Alphabet announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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Alphabet Company Profile

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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