Harvard Management Co. Inc. cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 58.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 28,069 shares of the information services provider’s stock after selling 38,766 shares during the quarter. Alphabet accounts for about 5.1% of Harvard Management Co. Inc.’s holdings, making the stock its 4th largest position. Harvard Management Co. Inc.’s holdings in Alphabet were worth $32,615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its position in Alphabet by 29.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock valued at $1,297,422,000 after purchasing an additional 219,626 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Alphabet in the fourth quarter valued at about $76,173,000. Eagle Asset Management Inc. lifted its position in shares of Alphabet by 0.9% in the fourth quarter. Eagle Asset Management Inc. now owns 6,805 shares of the information services provider’s stock valued at $9,114,000 after acquiring an additional 63 shares in the last quarter. Blue Whale Capital LLP purchased a new position in shares of Alphabet in the fourth quarter valued at about $9,670,000. Finally, Watchman Group Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at about $2,104,000. Institutional investors own 34.29% of the company’s stock.
Several equities analysts have recently commented on the company. KeyCorp restated a “buy” rating and issued a $1,769.00 price objective on shares of Alphabet in a research report on Tuesday, February 4th. Nomura Securities boosted their target price on Alphabet from $1,560.00 to $1,680.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Pivotal Research cut their target price on Alphabet from $1,700.00 to $1,425.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Finally, Credit Suisse Group increased their price objective on Alphabet from $1,500.00 to $1,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Four investment analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $1,505.34.
NASDAQ:GOOGL opened at $1,413.24 on Friday. Alphabet Inc has a 52 week low of $1,008.87 and a 52 week high of $1,530.74. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $960.27 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. The stock’s 50-day moving average price is $1,281.39 and its 200-day moving average price is $1,330.33.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). The business had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same quarter last year, the business earned $9.50 earnings per share. Sell-side analysts expect that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.
Alphabet Company 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.
Recommended Story: Monthly Dividend Stocks Can Provide Solid Income
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).
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.