Columbus Hill Capital Management L.P. Reduces Holdings in Alphabet Inc (GOOGL)
Columbus Hill Capital Management L.P. lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 34.3% during the 2nd quarter, Holdings Channel reports. The firm owned 35,838 shares of the information services provider’s stock after selling 18,700 shares during the quarter. Alphabet comprises approximately 2.9% of Columbus Hill Capital Management L.P.’s investment portfolio, making the stock its 9th largest position. Columbus Hill Capital Management L.P.’s holdings in Alphabet were worth $40,468,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Giverny Capital Inc. lifted its stake in Alphabet by 10.6% during the 2nd quarter. Giverny Capital Inc. now owns 6,346 shares of the information services provider’s stock valued at $7,166,000 after acquiring an additional 609 shares during the period. Partners Capital Investment Group LLP lifted its stake in Alphabet by 5,629.1% during the 2nd quarter. Partners Capital Investment Group LLP now owns 35,234 shares of the information services provider’s stock valued at $39,786,000 after acquiring an additional 34,619 shares during the period. Burney Co. lifted its stake in Alphabet by 7.6% during the 2nd quarter. Burney Co. now owns 18,628 shares of the information services provider’s stock valued at $21,035,000 after acquiring an additional 1,319 shares during the period. Capital Wealth Planning LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $260,000. Finally, Arlington Financial Advisors LLC lifted its stake in Alphabet by 30.6% during the 2nd quarter. Arlington Financial Advisors LLC now owns 1,618 shares of the information services provider’s stock valued at $1,986,000 after acquiring an additional 379 shares during the period. 30.54% of the stock is currently owned by institutional investors.
Several brokerages have commented on GOOGL. ValuEngine upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Guggenheim began coverage on shares of Alphabet in a research note on Thursday. They set a “buy” rating and a $1,330.00 price objective for the company. Nomura restated a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research note on Tuesday. MKM Partners decreased their price objective on shares of Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating for the company in a research note on Monday, November 26th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,500.00 price objective (down from $1,515.00) on shares of Alphabet in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,330.16.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $2.52. The firm had revenue of $27.16 billion during the quarter, compared to analysts’ expectations of $27.32 billion. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. As a group, equities research analysts forecast that Alphabet Inc will post 45.02 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Columbus Hill Capital Management L.P. Reduces Holdings in Alphabet Inc (GOOGL)” was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.watchlistnews.com/columbus-hill-capital-management-l-p-reduces-holdings-in-alphabet-inc-googl/2666590.html.
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.
See Also: Stock Symbols and CUSIP Explained
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.