Majedie Asset Management Ltd lessened its stake in Alphabet Inc (NASDAQ:GOOGL) by 18.5% in the 3rd quarter, Holdings Channel reports. The firm owned 15,382 shares of the information services provider’s stock after selling 3,484 shares during the period. Alphabet comprises about 1.2% of Majedie Asset Management Ltd’s portfolio, making the stock its 17th largest holding. Majedie Asset Management Ltd’s holdings in Alphabet were worth $14,978,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. grew its stake in shares of Alphabet by 13.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,850 shares of the information services provider’s stock worth $3,555,000 after acquiring an additional 470 shares in the last quarter. Legacy Private Trust Co. grew its stake in shares of Alphabet by 31.2% in the second quarter. Legacy Private Trust Co. now owns 3,821 shares of the information services provider’s stock worth $3,552,000 after acquiring an additional 909 shares in the last quarter. Legacy Capital Partners Inc. lifted its position in shares of Alphabet by 0.8% during the 2nd quarter. Legacy Capital Partners Inc. now owns 600 shares of the information services provider’s stock worth $558,000 after purchasing an additional 5 shares during the last quarter. Reliance Trust Co. of Delaware lifted its position in shares of Alphabet by 3.9% during the 2nd quarter. Reliance Trust Co. of Delaware now owns 1,686 shares of the information services provider’s stock worth $1,568,000 after purchasing an additional 64 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Alphabet by 4.5% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,047 shares of the information services provider’s stock worth $973,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 33.61% of the company’s stock.

Several equities research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, October 24th. Zacks Investment Research raised shares of 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 decreased their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Cowen lifted their price objective on shares of 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 raised shares of 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 analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,157.02.

Alphabet Inc (NASDAQ GOOGL) opened at $1,055.41 on Thursday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1 year low of $824.30 and a 1 year high of $1,198.00. The firm has a market cap of $753,463.13, a PE ratio of 58.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.94.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). The business 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%. equities analysts anticipate that Alphabet Inc will post 42.51 EPS for the current fiscal year.

Alphabet announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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Alphabet 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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