Premier Asset Management LLC reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.2% in the 3rd quarter, Holdings Channel reports. The firm owned 7,322 shares of the information services provider’s stock after selling 240 shares during the quarter. Premier Asset Management LLC’s holdings in Alphabet were worth $7,130,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Odey Holdings AG raised its position in shares of Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares in the last quarter. Stelac Advisory Services LLC bought a new position in shares of Alphabet in the 3rd quarter worth about $126,000. Lloyds Banking Group plc bought a new position in shares of Alphabet in the 2nd quarter worth about $133,000. Farmers National Bank raised its position in shares of Alphabet by 3.3% in the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock worth $144,000 after acquiring an additional 5 shares in the last quarter. Finally, Hudock Capital Group LLC raised its position in shares of Alphabet by 11.7% in the 2nd quarter. Hudock Capital Group LLC now owns 162 shares of the information services provider’s stock worth $150,000 after acquiring an additional 17 shares in the last quarter. 33.29% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc (NASDAQ:GOOGL) opened at $1,117.51 on Wednesday. Alphabet Inc has a 1 year low of $824.30 and a 1 year high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. The company has a market cap of $794,623.31, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 1.18 and a beta of 0.95.
Alphabet declared that its board has approved a stock buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
GOOGL has been the subject of several research reports. Wells Fargo & Co restated a “buy” rating and issued a $1,275.00 target price on shares of Alphabet in a research note on Friday, February 2nd. Cowen raised their target price on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. Oppenheimer raised their target price on Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a research note on Friday, February 2nd. William Blair restated an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Finally, SunTrust Banks restated a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a research note on Friday, January 12th. 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. The company has a consensus rating of “Buy” and a consensus target price of $1,161.00.
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.
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.