Alphabet Inc. (NASDAQ:GOOGL) is PICTET BANK & TRUST Ltd’s 5th Largest Position

PICTET BANK & TRUST Ltd trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,716 shares of the information services provider’s stock after selling 244 shares during the period. Alphabet makes up approximately 3.7% of PICTET BANK & TRUST Ltd’s holdings, making the stock its 5th largest position. PICTET BANK & TRUST Ltd’s holdings in Alphabet were worth $6,632,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOGL. Covey Capital Advisors LLC raised its holdings in Alphabet by 1.9% in the 1st quarter. Covey Capital Advisors LLC now owns 2,189 shares of the information services provider’s stock worth $4,515,000 after acquiring an additional 40 shares during the last quarter. Sumitomo Mitsui Financial Group Inc. raised its holdings in Alphabet by 314.3% in the 1st quarter. Sumitomo Mitsui Financial Group Inc. now owns 58 shares of the information services provider’s stock worth $119,000 after acquiring an additional 44 shares during the last quarter. Ironwood Wealth Management LLC. raised its holdings in Alphabet by 12.2% in the 1st quarter. Ironwood Wealth Management LLC. now owns 1,014 shares of the information services provider’s stock worth $2,091,000 after acquiring an additional 110 shares during the last quarter. Bull Street Advisors LLC raised its holdings in Alphabet by 0.9% in the 1st quarter. Bull Street Advisors LLC now owns 769 shares of the information services provider’s stock worth $1,586,000 after acquiring an additional 7 shares during the last quarter. Finally, Allred Capital Management LLC raised its holdings in Alphabet by 1.9% in the 1st quarter. Allred Capital Management LLC now owns 891 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 34.43% of the company’s stock.

A number of brokerages have weighed in on GOOGL. Morgan Stanley boosted their target price on shares of Alphabet from $2,575.00 to $3,000.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Truist boosted their target price on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Credit Suisse Group boosted their target price on shares of Alphabet from $2,755.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Friday, July 23rd. Stifel Nicolaus boosted their target price on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Finally, The Goldman Sachs Group began coverage on shares of Alphabet in a research report on Monday, September 13th. They set a “buy” rating and a $3,350.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $2,846.21.

Shares of NASDAQ GOOGL traded down $56.20 during trading hours on Friday, hitting $2,816.00. 2,667,853 shares of the company traded hands, compared to its average volume of 1,526,105. The company’s 50 day moving average price is $2,742.03 and its 200 day moving average price is $2,439.61. The company has a current ratio of 3.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00. Alphabet Inc. has a 12 month low of $1,402.15 and a 12 month high of $2,925.07.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $19.89 by $7.37. The business had revenue of $50.95 billion for the quarter, compared to the consensus estimate of $46.07 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. During the same period in the previous year, the firm earned $10.13 EPS. Equities analysts anticipate that Alphabet Inc. will post 101.86 EPS for the current year.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

Read More: How is inflation measured?

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).

Institutional Ownership by Quarter for Alphabet (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.