Ipswich Investment Management Co. Inc. reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,692 shares of the information services provider’s stock after selling 115 shares during the period. Alphabet makes up 1.5% of Ipswich Investment Management Co. Inc.’s investment portfolio, making the stock its 18th biggest position. Ipswich Investment Management Co. Inc.’s holdings in Alphabet were worth $4,945,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Pacific Wealth Strategies Group Inc. increased its stake in Alphabet by 2.7% in the 3rd quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock worth $4,009,000 after buying an additional 87 shares during the period. LS Investment Advisors LLC increased its stake in Alphabet by 1.3% during the third quarter. LS Investment Advisors LLC now owns 11,835 shares of the information services provider’s stock worth $14,452,000 after purchasing an additional 151 shares during the period. NumerixS Investment Technologies Inc purchased a new stake in Alphabet during the second quarter worth about $2,182,000. Invesco Ltd. increased its stake in Alphabet by 37.1% during the second quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after purchasing an additional 1,285,824 shares during the period. Finally, Prentiss Smith & Co. Inc. purchased a new stake in Alphabet during the third quarter worth about $201,000. 33.55% of the stock is owned by institutional investors.
GOOGL has been the topic of a number of recent research reports. Stifel Nicolaus upgraded shares of Alphabet from a “hold” rating to a “buy” rating and boosted their price target for the stock from $1,325.00 to $1,525.00 in a research note on Thursday, December 5th. Tigress Financial restated a “buy” rating on shares of Alphabet in a research note on Friday, November 22nd. Jefferies Financial Group upped their target price on shares of Alphabet from $1,500.00 to $1,550.00 in a research note on Tuesday, October 29th. Citigroup restated a “buy” rating and set a $1,500.00 target price (up from $1,450.00) on shares of Alphabet in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada upped their target price on shares of Alphabet from $1,425.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Six investment analysts have rated the stock with a hold rating and thirty-seven have assigned a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average price target of $1,425.59.
Shares of GOOGL stock traded up $14.12 during trading hours on Wednesday, hitting $1,409.23. The stock had a trading volume of 857,690 shares, compared to its average volume of 1,207,107. The firm has a market capitalization of $971.88 billion, a PE ratio of 29.66, a PEG ratio of 1.53 and a beta of 1.01. Alphabet Inc has a twelve month low of $1,027.03 and a twelve month high of $1,403.50. The stock’s 50 day moving average is $1,336.46 and its 200 day moving average is $1,235.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). The firm had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same period in the previous year, the company posted $13.06 earnings per share. As a group, equities analysts predict that Alphabet Inc will post 49.03 earnings per share for the current year.
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.
Featured Story: Treasury Bonds
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.