North American Management Corp Lowers Position in Alphabet Inc (GOOGL)

North American Management Corp reduced its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,194 shares of the information services provider’s stock after selling 381 shares during the period. Alphabet accounts for about 3.6% of North American Management Corp’s investment portfolio, making the stock its 5th largest holding. North American Management Corp’s holdings in Alphabet were worth $23,379,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after buying an additional 662,279 shares during the last quarter. BlackRock Inc. raised its holdings in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after buying an additional 567,337 shares during the last quarter. FMR LLC raised its holdings in Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after buying an additional 367,634 shares during the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 2.4% in the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after buying an additional 102,133 shares during the last quarter. Finally, Capital World Investors raised its holdings in Alphabet by 7.8% in the second quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after buying an additional 280,710 shares during the last quarter. 34.37% of the stock is owned by institutional investors.

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Several research analysts have issued reports on GOOGL shares. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price for the company in a 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 report on Monday, January 15th. Monness Crespi & Hardt reissued a “buy” rating and set a $1,250.00 price objective (up from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Cowen boosted their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a 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 report on Monday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,166.73.

Shares of Alphabet stock opened at $1,026.55 on Friday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The stock has a market cap of $713,229.56, a P/E ratio of 32.07, a P/E/G ratio of 1.10 and a beta of 0.99. Alphabet Inc has a 12-month low of $824.30 and a 12-month high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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 business had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities analysts predict that Alphabet Inc will post 41.21 EPS for the current fiscal year.

Alphabet declared that its board has authorized a share buyback program on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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