Zweig DiMenna Associates LLC cut its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 45.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,967 shares of the information services provider’s stock after selling 5,725 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Alphabet were worth $9,880,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of GOOGL. Spence Asset Management raised its stake in shares of Alphabet by 45.5% in the first quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 10 shares in the last quarter. OmniStar Financial Group Inc. acquired a new position in shares of Alphabet in the first quarter valued at $44,000. Cedar Mountain Advisors LLC raised its stake in shares of Alphabet by 26.9% in the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 7 shares in the last quarter. Center for Financial Planning Inc. raised its stake in shares of Alphabet by 35.5% in the first quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 11 shares in the last quarter. Finally, Danda Trouve Investment Management Inc. raised its stake in shares of Alphabet by 42.9% in the first quarter. Danda Trouve Investment Management Inc. now owns 50 shares of the information services provider’s stock valued at $58,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 34.14% of the company’s stock.
Shares of GOOGL opened at $1,487.95 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,587.05. The firm has a market capitalization of $1,050.12 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.35 and a beta of 1.06. The stock’s fifty day simple moving average is $1,473.93 and its 200-day simple moving average is $1,375.65.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The business had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Analysts anticipate that Alphabet Inc will post 42.07 EPS for the current year.
A number of research analysts recently commented on the company. Barclays upped their target price on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday. Nomura upped their target price on Alphabet from $1,680.00 to $1,700.00 in a research note on Wednesday, April 29th. Mizuho upped their target price on Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Credit Suisse Group upped their price target on Alphabet from $1,600.00 to $1,850.00 and gave the company an “outperform” rating in a research report on Monday, July 20th. Finally, Societe Generale lowered their price target on Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $1,657.51.
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.
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