IBM Retirement Fund Sells 845 Shares of Alphabet Inc (GOOGL)

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IBM Retirement Fund lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,292 shares of the information services provider’s stock after selling 845 shares during the period. Alphabet accounts for approximately 1.5% of IBM Retirement Fund’s investment portfolio, making the stock its 10th biggest holding. IBM Retirement Fund’s holdings in Alphabet were worth $6,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parkside Investments LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $124,000. ELM Advisors LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $128,000. Emerald Investment Partners LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $137,000. Quad Cities Investment Group LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $179,000. Finally, Marino Stram & Associates LLC increased its holdings in shares of Alphabet by 47.7% in the second quarter. Marino Stram & Associates LLC now owns 161 shares of the information services provider’s stock valued at $182,000 after purchasing an additional 52 shares during the period. 33.33% of the stock is currently owned by institutional investors and hedge funds.

Alphabet stock opened at $1,126.51 on Wednesday. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $778.35 billion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.05. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, topping the Zacks’ consensus estimate of $11.08 by $1.69. The company had revenue of $31.84 billion for the quarter, compared to the consensus estimate of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same period in the previous year, the business earned $9.70 earnings per share. On average, equities analysts anticipate that Alphabet Inc will post 47.38 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on GOOGL. Monness Crespi & Hardt dropped their target price on Alphabet from $1,415.00 to $1,315.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Pivotal Research raised Alphabet from a “hold” rating to a “buy” rating and boosted their target price for the company from $1,010.00 to $1,240.00 in a report on Monday, January 7th. William Blair reissued an “outperform” rating on shares of Alphabet in a report on Tuesday, February 5th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 target price on the stock in a report on Monday, January 28th. Finally, Nomura dropped their target price on Alphabet from $1,350.00 to $1,310.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. Three research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average price target of $1,320.24.

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Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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