Equitable Holdings Inc. Sells 384 Shares of Alphabet Inc. (NASDAQ:GOOGL)


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Equitable Holdings Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,825 shares of the information services provider’s stock after selling 384 shares during the quarter. Equitable Holdings Inc.’s holdings in Alphabet were worth $10,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOGL. HighPoint Advisor Group LLC raised its position in Alphabet by 5.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 6,823 shares of the information services provider’s stock valued at $12,026,000 after buying an additional 363 shares during the last quarter. Penbrook Management LLC grew its stake in shares of Alphabet by 7.0% in the 3rd quarter. Penbrook Management LLC now owns 1,535 shares of the information services provider’s stock worth $2,250,000 after acquiring an additional 100 shares in the last quarter. James Investment Research Inc. raised its holdings in shares of Alphabet by 30.8% in the third quarter. James Investment Research Inc. now owns 14,375 shares of the information services provider’s stock valued at $21,068,000 after purchasing an additional 3,384 shares during the last quarter. Monument Capital Management bought a new position in shares of Alphabet during the third quarter valued at about $248,000. Finally, Deltec Asset Management LLC boosted its holdings in Alphabet by 3.6% during the third quarter. Deltec Asset Management LLC now owns 16,494 shares of the information services provider’s stock worth $24,174,000 after purchasing an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 33.79% of the company’s stock.

Alphabet stock opened at $2,054.26 on Tuesday. The stock has a market cap of $1.38 trillion, a price-to-earnings ratio of 39.70, a PEG ratio of 1.65 and a beta of 0.99. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $1,913.73 and a 200 day simple moving average of $1,700.78. Alphabet Inc. has a 52 week low of $1,008.87 and a 52 week high of $2,145.14.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $15.90 by $6.40. The company had revenue of $46.43 billion during the quarter, compared to analyst estimates of $44.09 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. During the same quarter in the previous year, the firm earned $15.35 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 52.19 earnings per share for the current year.

A number of equities analysts have recently weighed in on GOOGL shares. Wells Fargo & Company boosted their target price on Alphabet from $1,800.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Thursday, January 28th. Loop Capital raised Alphabet from a “hold” rating to a “buy” rating and set a $2,525.00 price objective on the stock in a research report on Tuesday, February 16th. Stifel Nicolaus restated a “hold” rating and issued a $2,025.00 price objective (up previously from $1,700.00) on shares of Alphabet in a research note on Tuesday, February 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Finally, Piper Sandler lifted their price objective on shares of Alphabet from $2,056.00 to $2,250.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Three research analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $2,059.56.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

Further Reading: Outstanding Shares

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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