Cim Investment Mangement Inc. decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,196 shares of the information services provider’s stock after selling 87 shares during the quarter. Alphabet comprises approximately 1.0% of Cim Investment Mangement Inc.’s investment portfolio, making the stock its 8th largest holding. Cim Investment Mangement Inc.’s holdings in Alphabet were worth $2,295,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. MARSHALL WACE ASIA Ltd increased its position in Alphabet by 2,089.3% during the third quarter. MARSHALL WACE ASIA Ltd now owns 97,141 shares of the information services provider’s stock worth $117,257,000 after buying an additional 92,704 shares during the period. Exane Derivatives increased its position in Alphabet by 49.3% during the fourth quarter. Exane Derivatives now owns 790 shares of the information services provider’s stock worth $825,000 after buying an additional 261 shares during the period. CX Institutional increased its position in Alphabet by 93.1% during the fourth quarter. CX Institutional now owns 112 shares of the information services provider’s stock worth $117,000 after buying an additional 54 shares during the period. Ontario Teachers Pension Plan Board increased its position in Alphabet by 66.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 76,862 shares of the information services provider’s stock worth $92,779,000 after buying an additional 30,611 shares during the period. Finally, Dfpg Investments Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $428,000. Hedge funds and other institutional investors own 33.48% of the company’s stock.

Alphabet stock opened at $1,038.74 on Tuesday. The company has a current ratio of 3.96, a quick ratio of 3.93 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The company has a market capitalization of $721.14 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.56 by $1.34. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm had revenue of $29.48 billion for the quarter, compared to the consensus estimate of $29.99 billion. During the same period in the previous year, the business earned $13.33 earnings per share. On average, equities analysts anticipate that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.

Several research analysts have commented on GOOGL shares. Wells Fargo & Co set a $1,300.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,278.00 price target on the stock in a research report on Tuesday, February 5th. SunTrust Banks dropped their target price on Alphabet to $1,350.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. They noted that the move was a valuation call. Citigroup dropped their target price on Alphabet from $1,350.00 to $1,325.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. Finally, Nomura dropped their target price on Alphabet from $1,350.00 to $1,310.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,327.30.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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