Alphabet Inc (NASDAQ:GOOGL) is Ninety One UK Ltd’s 7th Largest Position

Ninety One UK Ltd cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 6.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533,947 shares of the information services provider’s stock after selling 36,940 shares during the quarter. Alphabet comprises approximately 2.5% of Ninety One UK Ltd’s investment portfolio, making the stock its 7th biggest holding. Ninety One UK Ltd’s holdings in Alphabet were worth $757,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Garde Capital Inc. raised its stake in shares of Alphabet by 6.3% in the second quarter. Garde Capital Inc. now owns 2,621 shares of the information services provider’s stock worth $3,717,000 after purchasing an additional 156 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Alphabet by 1.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 483,778 shares of the information services provider’s stock worth $686,023,000 after buying an additional 7,950 shares during the period. Advisor OS LLC purchased a new position in Alphabet during the 2nd quarter worth approximately $440,000. WFA of San Diego LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $1,324,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Alphabet by 121.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 115,123 shares of the information services provider’s stock valued at $163,250,000 after acquiring an additional 63,244 shares during the last quarter. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet stock traded up $26.29 during trading on Tuesday, hitting $1,535.12. The company had a trading volume of 1,149,387 shares, compared to its average volume of 2,132,642. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1,044.13 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.07. Alphabet Inc has a 1-year low of $1,008.87 and a 1-year high of $1,726.10. The company’s 50 day simple moving average is $1,548.42 and its 200-day simple moving average is $1,393.09.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. As a group, analysts forecast that Alphabet Inc will post 44.74 earnings per share for the current fiscal year.

Several research analysts recently issued reports on GOOGL shares. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and raised their target price for the stock from $1,550.00 to $1,600.00 in a report on Friday, July 31st. SunTrust Banks upped their price objective on Alphabet from $1,805.00 to $1,850.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Susquehanna Bancshares raised their target price on Alphabet from $1,550.00 to $1,850.00 and gave the company a “positive” rating in a research report on Friday, July 31st. KeyCorp started coverage on Alphabet in a report on Monday. They issued an “overweight” rating and a $1,955.00 price target for the company. Finally, Wells Fargo & Company reissued a “buy” rating and issued a $1,750.00 price objective (up from $1,575.00) on shares of Alphabet in a report on Monday, July 27th. Four research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,666.49.

Alphabet Company Profile

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.

See Also: Cost of Equity

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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