Kidder Stephen W Reduces Holdings in Alphabet Inc (GOOGL)
Kidder Stephen W reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,359 shares of the information services provider’s stock after selling 138 shares during the quarter. Alphabet makes up approximately 3.4% of Kidder Stephen W’s investment portfolio, making the stock its 9th largest position. Kidder Stephen W’s holdings in Alphabet were worth $7,691,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 118,334.5% during the third quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock valued at $3,968,570,000 after purchasing an additional 3,284,967 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of Alphabet by 118,282.1% during the third quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock valued at $2,137,263,000 after purchasing an additional 1,813,265 shares during the period. Packer & Co Ltd purchased a new stake in shares of Alphabet during the fourth quarter valued at $21,605,000. FMR LLC boosted its stake in shares of Alphabet by 5.5% during the third quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after purchasing an additional 858,589 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in shares of Alphabet by 1,075.1% during the third quarter. Glenmede Trust Co. NA now owns 707,057 shares of the information services provider’s stock valued at $853,473,000 after purchasing an additional 646,889 shares during the period. 33.99% of the stock is owned by hedge funds and other institutional investors.
GOOGL has been the subject of several recent research reports. ValuEngine upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Needham & Company LLC initiated coverage on Alphabet in a report on Monday, March 4th. They issued a “buy” rating and a $1,153.42 price objective for the company. Wells Fargo & Co set a $1,300.00 price objective on Alphabet and gave the company a “buy” rating in a report on Tuesday, February 5th. William Blair restated an “outperform” rating on shares of Alphabet in a report on Tuesday, February 5th. Finally, Wedbush restated an “outperform” rating and issued a $1,350.00 price objective on shares of Alphabet in a report on Tuesday, February 5th. Two investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,329.91.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, February 4th. The information services provider reported $12.77 EPS for the quarter, beating the Zacks’ consensus estimate of $11.08 by $1.69. The firm had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. During the same quarter in the prior year, the firm earned $9.70 earnings per share. On average, analysts anticipate that Alphabet Inc will post 47.31 earnings per share for the current fiscal 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.
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