TCI Wealth Advisors Inc. reduced its stake in Alphabet Inc (NASDAQ:GOOG) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,525 shares of the information services provider’s stock after selling 39 shares during the period. TCI Wealth Advisors Inc.’s holdings in Alphabet were worth $2,039,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Bernardo Wealth Planning LLC grew its stake in Alphabet by 1.8% in the 2nd quarter. Bernardo Wealth Planning LLC now owns 910 shares of the information services provider’s stock valued at $984,000 after acquiring an additional 16 shares during the last quarter. BlackRock Inc. grew its stake in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after acquiring an additional 612,804 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Alphabet in the 2nd quarter valued at about $310,000. River & Mercantile Asset Management LLP acquired a new stake in Alphabet in the 2nd quarter valued at about $695,000. Finally, Marathon Partners Equity Management LLC grew its stake in Alphabet by 26.1% in the 2nd quarter. Marathon Partners Equity Management LLC now owns 2,900 shares of the information services provider’s stock valued at $3,135,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 33.80% of the company’s stock.
A number of brokerages recently commented on GOOG. Stifel Nicolaus raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Mizuho increased their price objective on shares of Alphabet from $1,450.00 to $1,650.00 and gave the company a “buy” rating in a research note on Monday. Guggenheim increased their price objective on shares of Alphabet from $1,425.00 to $1,525.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Raymond James increased their price objective on shares of Alphabet from $1,360.00 to $1,475.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Piper Jaffray Companies began coverage on shares of Alphabet in a research note on Tuesday, December 3rd. They issued an “overweight” rating and a $1,500.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $1,527.47.
Alphabet stock opened at $1,428.71 on Monday. Alphabet Inc has a 12-month low of $1,025.00 and a 12-month high of $1,503.21. The stock has a market capitalization of $1,011.57 billion, a P/E ratio of 30.66, a P/E/G ratio of 1.60 and a beta of 1.01. The firm’s 50-day moving average is $1,386.86 and its two-hundred day moving average is $1,264.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.78 and a quick ratio of 3.75.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $12.57 by ($2.45). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The firm had revenue of $40.50 billion for the quarter, compared to analyst estimates of $40.17 billion. During the same period in the prior year, the business earned $13.06 earnings per share. Alphabet’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc will post 49.03 EPS for the current year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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