Bbva Compass Bancshares Inc. Trims Stake in Alphabet Inc (GOOGL)

Bbva Compass Bancshares Inc. lowered its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 19,801 shares of the information services provider’s stock after selling 480 shares during the quarter. Alphabet makes up approximately 1.3% of Bbva Compass Bancshares Inc.’s investment portfolio, making the stock its 14th largest position. Bbva Compass Bancshares Inc.’s holdings in Alphabet were worth $19,281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after acquiring an additional 662,279 shares in the last quarter. BlackRock Inc. increased its holdings in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. FMR LLC increased its holdings in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after acquiring an additional 367,634 shares in the last quarter. State Street Corp increased its holdings in Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after acquiring an additional 142,214 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after acquiring an additional 102,133 shares in the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.

GOOGL has been the subject of several analyst reports. CIBC reissued an “outperform” rating and issued a $1,180.00 target price (up from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Pivotal Research reissued a “hold” rating and issued a $970.00 target price on shares of Alphabet in a report on Friday, October 13th. Citigroup restated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Vetr downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price target for the company. in a research note on Friday, October 6th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,096.47.

Alphabet Inc (NASDAQ:GOOGL) opened at $1,110.29 on Friday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $771,430.69, a P/E ratio of 37.17, a PEG ratio of 1.45 and a beta of 0.89. Alphabet Inc has a 52-week low of $811.50 and a 52-week high of $1,113.58.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. The firm had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period in the prior year, the company earned $9.06 EPS. sell-side analysts predict that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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