Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 36,942 shares of the information services provider’s stock after selling 1,470 shares during the quarter. Alphabet comprises 2.1% of Edmond DE Rothschild Holding S.A.’s investment portfolio, making the stock its 4th biggest holding. Edmond DE Rothschild Holding S.A.’s holdings in Alphabet were worth $90,204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Cohen Investment Advisors LLC increased its holdings in shares of Alphabet by 22,787.8% in the 1st quarter. Cohen Investment Advisors LLC now owns 352,015 shares of the information services provider’s stock valued at $2,861,000 after acquiring an additional 350,477 shares during the last quarter. Whale Rock Capital Management LLC purchased a new position in Alphabet during the 1st quarter worth approximately $595,998,000. Parnassus Investments CA grew its stake in Alphabet by 46.7% during the 2nd quarter. Parnassus Investments CA now owns 693,072 shares of the information services provider’s stock worth $1,692,336,000 after buying an additional 220,762 shares during the last quarter. Jennison Associates LLC grew its stake in Alphabet by 16.0% during the 1st quarter. Jennison Associates LLC now owns 1,436,684 shares of the information services provider’s stock worth $2,963,189,000 after buying an additional 197,838 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Alphabet by 101.2% during the 1st quarter. Lord Abbett & CO. LLC now owns 380,403 shares of the information services provider’s stock worth $784,586,000 after buying an additional 191,361 shares during the last quarter. Institutional investors and hedge funds own 34.43% of the company’s stock.

A number of analysts have weighed in on the company. MKM Partners increased their price objective on Alphabet from $2,500.00 to $3,150.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Needham & Company LLC increased their price objective on Alphabet from $2,700.00 to $3,200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Truist increased their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Barclays increased their price objective on Alphabet from $3,000.00 to $3,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 28th. Finally, Wedbush raised their price target on Alphabet from $3,127.00 to $3,424.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Three research analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,846.21.

Shares of GOOGL stock opened at $2,783.79 on Tuesday. 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 company has a market cap of $1.86 trillion, a PE ratio of 30.07, a P/E/G ratio of 1.83 and a beta of 1.00. The company’s fifty day simple moving average is $2,746.73 and its 200-day simple moving average is $2,450.48. Alphabet Inc. has a 52 week low of $1,402.15 and a 52 week high of $2,925.07.

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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