Hartland & Co. LLC trimmed its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 7.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 3,828 shares of the information services provider’s stock after selling 315 shares during the quarter. Hartland & Co. LLC’s holdings in Alphabet were worth $3,727,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares during the period. BlackRock Inc. increased its stake in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares during the period. FMR LLC increased its stake in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after purchasing an additional 367,634 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after purchasing an additional 102,133 shares during the period. Finally, Capital World Investors increased its stake in Alphabet by 7.8% in the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after purchasing an additional 280,710 shares during the period. 33.60% of the stock is currently owned by institutional investors.

Shares of Alphabet Inc (GOOGL) opened at $1,054.56 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet Inc has a 1 year low of $824.30 and a 1 year high of $1,198.00. The firm has a market capitalization of $726,930.63, a P/E ratio of 32.69, a P/E/G ratio of 1.08 and a beta of 0.94.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $25.87 billion during the quarter, compared to the consensus estimate of $25.65 billion. research analysts predict that Alphabet Inc will post 42.51 EPS for the current fiscal year.

Alphabet announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

GOOGL has been the topic of a number of recent analyst reports. CIBC reiterated an “outperform” rating and issued a $1,180.00 price objective (up from $1,050.00) on shares of Alphabet in a research report on Friday, October 27th. Cowen lifted their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Citigroup reiterated a “buy” rating and issued a $1,180.00 price objective on shares of Alphabet in a research report on Tuesday, October 24th. They noted that the move was a valuation call. Goldman Sachs Group lifted their price objective on Alphabet from $1,125.00 to $1,175.00 in a research report on Friday, October 27th. Finally, Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average price target of $1,157.02.

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Alphabet Profile

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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