Veritas Asset Management LLP lessened its position in Alphabet Inc (NASDAQ:GOOGL) by 0.3% in the third quarter, HoldingsChannel.com reports. The fund owned 590,171 shares of the information services provider’s stock after selling 1,700 shares during the quarter. Alphabet makes up approximately 4.7% of Veritas Asset Management LLP’s holdings, making the stock its 12th largest holding. Veritas Asset Management LLP’s holdings in Alphabet were worth $574,661,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GOOGL. State of Alaska Department of Revenue purchased a new position in shares of Alphabet during the second quarter valued at approximately $102,000. Parkside Financial Bank & Trust boosted its position in shares of Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after buying an additional 36 shares during the last quarter. Odey Holdings AG boosted its position in shares of Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares during the last quarter. Lloyds Banking Group plc purchased a new position in shares of Alphabet during the second quarter valued at approximately $133,000. Finally, Farmers National Bank boosted its position in shares of Alphabet by 3.3% during the second quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after buying an additional 5 shares during the last quarter. 33.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Alphabet Inc (NASDAQ:GOOGL) opened at $1,130.65 on Friday. The stock has a market capitalization of $783,260.00, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet Inc has a one year low of $812.05 and a one year high of $1,131.30.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The firm had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same period in the previous year, the company posted $9.06 earnings per share. equities research analysts predict that Alphabet Inc will post 32.34 EPS for the current year.

Several research analysts recently issued reports on GOOGL shares. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,046.78 target price on the stock in a research report on Monday, September 18th. Citigroup reissued a “buy” rating and issued a $1,180.00 price objective on shares of Alphabet in a research report on Wednesday, September 20th. Susquehanna Bancshares reissued a “positive” rating and issued a $1,200.00 price objective on shares of Alphabet in a research report on Thursday, September 21st. Cantor Fitzgerald reissued a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Thursday, September 21st. Finally, SunTrust Banks reissued a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, September 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,100.06.

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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