Oppenheimer & Co. Inc. Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)
Oppenheimer & Co. Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the first quarter, Holdings Channel reports. The fund owned 28,685 shares of the information services provider’s stock after selling 133 shares during the period. Alphabet comprises about 0.7% of Oppenheimer & Co. Inc.’s investment portfolio, making the stock its 20th largest position. Oppenheimer & Co. Inc.’s holdings in Alphabet were worth $24,319,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at approximately $2,411,505,000. Fisher Asset Management LLC increased its stake in Alphabet by 2.6% in the first quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock valued at $908,302,000 after buying an additional 27,598 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Alphabet by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 994,541 shares of the information services provider’s stock valued at $843,172,000 after buying an additional 45,805 shares during the last quarter. Boston Partners increased its stake in Alphabet by 9.9% in the first quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock valued at $823,046,000 after buying an additional 87,783 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Alphabet by 3.8% in the fourth quarter. Loomis Sayles & Co. L P now owns 955,024 shares of the information services provider’s stock valued at $756,809,000 after buying an additional 35,192 shares during the last quarter. Institutional investors and hedge funds own 34.31% of the company’s stock.
Shares of Alphabet Inc. (GOOGL) traded up 0.79% during mid-day trading on Friday, reaching $930.86. 656,313 shares of the company were exchanged. The company’s 50-day moving average is $957.55 and its 200 day moving average is $908.38. The firm has a market capitalization of $644.97 billion, a price-to-earnings ratio of 33.74 and a beta of 0.99. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the 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 firm had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same period last year, the firm posted $8.42 EPS. Analysts predict that Alphabet Inc. will post $30.59 EPS for the current year.
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GOOGL has been the subject of several research reports. Instinet reiterated a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research note on Tuesday, April 25th. Jefferies Group LLC restated a “buy” rating and set a $1,200.00 target price (up from $1,000.00) on shares of Alphabet in a research report on Friday, April 28th. Zacks Investment Research downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) decreased their target price on shares of Alphabet from $1,100.00 to $970.00 and set a “buy” rating for the company in a research report on Friday, April 28th. Finally, Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $1,049.20.
Alphabet Company 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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