Goelzer Investment Management Inc. trimmed its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,191 shares of the information services provider’s stock after selling 82 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Alphabet were worth $1,160,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in GOOGL. Novare Capital Management LLC raised its stake in Alphabet by 0.9% during the 2nd quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock valued at $7,986,000 after acquiring an additional 80 shares during the last quarter. Camelot Portfolios LLC purchased a new position in shares of Alphabet during the 2nd quarter worth approximately $211,000. Gardiner Nancy B raised its stake in shares of Alphabet by 5.4% during the 3rd quarter. Gardiner Nancy B now owns 1,450 shares of the information services provider’s stock worth $1,412,000 after buying an additional 74 shares in the last quarter. Country Trust Bank purchased a new position in Alphabet in the 2nd quarter valued at approximately $44,071,000. Finally, Anchor Capital Advisors LLC increased its stake in Alphabet by 3.0% in the 2nd quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock valued at $351,000 after purchasing an additional 11 shares in the last quarter. 33.55% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc (GOOGL) opened at $1,110.29 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market capitalization of $771,430.69, a price-to-earnings ratio of 37.17, a P/E/G 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 issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period last year, the company posted $9.06 EPS. analysts predict that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on GOOGL shares. SunTrust Banks reaffirmed a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research note on Saturday, September 23rd. Cantor Fitzgerald reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a report on Tuesday, October 24th. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 target price on the stock. in a report on Friday, October 6th. Finally, Citigroup reiterated a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a report on Tuesday, October 24th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $1,097.41.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Equities Focus and is owned by of Equities Focus. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.equitiesfocus.com/2018/01/08/goelzer-investment-management-inc-has-1-16-million-position-in-alphabet-inc-googl.html.
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.
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.