Friedberg Investment Management Decreases Position in Alphabet Inc (GOOGL)

Friedberg Investment Management reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,125 shares of the company’s stock after selling 60 shares during the period. Friedberg Investment Management’s holdings in Alphabet were worth $2,476,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Alphabet by 3.0% in the fourth quarter. State Street Corp now owns 11,804,134 shares of the company’s stock worth $9,354,187,000 after buying an additional 342,368 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alphabet by 5.2% in the third quarter. Bank of New York Mellon Corp now owns 4,309,629 shares of the company’s stock worth $3,465,200,000 after buying an additional 213,418 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Alphabet by 3.3% in the third quarter. BlackRock Fund Advisors now owns 3,953,779 shares of the company’s stock worth $3,179,076,000 after buying an additional 124,684 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Alphabet by 1.5% in the third quarter. Fisher Asset Management LLC now owns 1,010,042 shares of the company’s stock worth $812,135,000 after buying an additional 14,723 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Alphabet by 4.4% in the third quarter. Nordea Investment Management AB now owns 950,937 shares of the company’s stock worth $764,610,000 after buying an additional 40,092 shares in the last quarter. 34.98% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Alphabet Inc (NASDAQ:GOOGL) opened at 867.91 on Tuesday. The company has a 50-day moving average price of $844.45 and a 200-day moving average price of $814.97. The company has a market cap of $600.09 billion, a PE ratio of 31.13 and a beta of 0.98. Alphabet Inc has a 1-year low of $672.66 and a 1-year high of $874.42.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, January 26th. The company reported $9.36 EPS for the quarter, missing the Zacks’ consensus estimate of $9.64 by $0.28. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. During the same quarter in the previous year, the firm posted $8.67 EPS. On average, analysts expect that Alphabet Inc will post $33.41 EPS for the current fiscal year.

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A number of analysts have commented on GOOGL shares. Argus reissued a “buy” rating and set a $950.00 price objective on shares of Alphabet in a report on Tuesday, January 31st. Jefferies Group LLC reissued a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a report on Friday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $1,040.00 price objective on shares of Alphabet in a report on Monday, January 30th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $1,000.00 price objective on shares of Alphabet in a report on Sunday. Finally, Goldman Sachs Group Inc reissued a “buy” rating and set a $970.00 price objective on shares of Alphabet in a report on Thursday, December 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, forty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $963.60.

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.

5 Day Chart for NASDAQ:GOOGL

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