Baldwin Brothers Inc. MA Cuts Holdings in Alphabet Inc. (GOOGL)
Baldwin Brothers Inc. MA decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,445 shares of the information services provider’s stock after selling 451 shares during the quarter. Alphabet comprises 3.2% of Baldwin Brothers Inc. MA’s holdings, making the stock its 3rd largest holding. Baldwin Brothers Inc. MA’s holdings in Alphabet were worth $19,937,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet in the second quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet in the first quarter valued at $108,000. Delta Asset Management LLC TN grew its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. Farmers National Bank grew its stake in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its stake in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after buying an additional 56 shares in the last quarter. 33.85% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on GOOGL shares. Societe Generale set a $1,210.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Saturday, July 22nd. Pivotal Research reaffirmed a “hold” rating and issued a $940.00 price objective (down from $980.00) on shares of Alphabet in a research note on Tuesday, July 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $1,258.00 price objective (up from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. Finally, Citigroup Inc. lifted their price objective on Alphabet from $1,135.00 to $1,180.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,056.14.
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Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 1.78% during midday trading on Thursday, hitting $984.00. The stock had a trading volume of 800,336 shares. Alphabet Inc. has a one year low of $743.59 and a one year high of $1,008.61. The firm has a 50 day moving average of $944.46 and a 200-day moving average of $935.77. The company has a market cap of $681.79 billion, a P/E ratio of 35.66 and a beta of 0.96.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the business earned $8.42 EPS. On average, analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
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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