Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Seelaus Asset Management LLC
Seelaus Asset Management LLC reduced its holdings of Alphabet Inc. shares (NASDAQ: GOOGL – Get a rating) by 1.3% during the first quarter, HoldingsChannel.com reports. The institutional investor held 1,377 shares of the information services provider after selling 18 shares during the quarter. Alphabet represents 2.3% of Seelaus Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. Seelaus Asset Management LLC’s holdings in Alphabet were worth $3,830,000 when it last filed with the Securities and Exchange Commission.
Several other hedge funds also changed their holdings in the company. New World Advisors LLC increased its stake in Alphabet by 7.5% in the third quarter. New World Advisors LLC now owns 428 shares of the information services provider valued at $1,178,000 after buying 30 more shares in the last quarter. MFA Wealth Advisors LLC bought a new position in Alphabet in the third quarter worth approximately $145,000. Studio Investment Management LLC bought a new position in Alphabet in the third quarter worth approximately $9,817,000. Willis Investment Counsel increased its stake in Alphabet by 15.8% in the third quarter. Willis Investment Counsel now owns 3,545 shares of the information services provider worth $9,478,000 after buying 483 more shares last quarter. Finally, Centiva Capital LP bought a new position in Alphabet in the third quarter worth approximately $1,773,000. Institutional investors and hedge funds hold 41.70% of the company’s shares.
A number of research analysts have commented on GOOGL’s actions. Wedbush lowered its target price on Alphabet from $3,800.00 to $3,113.00 in a Wednesday, April 27 research note. BMO Capital Markets lowered its target price on Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating on the stock in a Wednesday, April 27 research note. Wolfe Research reduced its price target on Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating for the company in a Wednesday, April 27 research report. StockNews.com upgraded Alphabet from a “buy” rating to a “hold” rating in a Friday, April 29 research report. Finally, Guggenheim reduced its price target on Alphabet from $3,350.00 to $3,000.00 in a Wednesday, April 27 research report. One investment analyst has assigned the stock a hold rating, thirty-four have issued a buy rating and one has assigned the stock a high buy rating. According to data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $3,297.86.
In other news, please Prabhakar Raghavan sold 490 shares of the company in a trade on Tuesday, May 3. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the sale, the senior vice president now owns 497 shares of the company, valued at $1,160,644.10. The transaction was disclosed in an SEC filing, available at this hyperlink. Also, director Brin Sergei sold 2,639 shares of the company in a transaction dated Monday, April 11. The shares were sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following completion of the transaction, the administrator now owns 18,599,842 shares of the company, valued at approximately $48,959,992,099.76. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 550,357 shares of the company worth $21,855,978. 11.44% of the shares are held by company insiders.
NASDAQ GOOGL opened at $2,359.50 on Friday. The company has a market capitalization of $1.55 trillion, a PE ratio of 21.34, a price-to-earnings growth ratio of 1.10 and a beta of 1.13. Alphabet Inc. has a one-year low of $2,037.69 and a one-year high of $3,030.93. The stock’s 50-day simple moving average is $2,291.15 and its 200-day simple moving average is $2,587.43. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.
Alphabet shares are set to split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly issued shares will be distributed to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ: GOOGL – Get a rating) last released its quarterly results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). The company posted revenue of $56.02 billion for the quarter, versus a consensus estimate of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. In the same quarter last year, the company earned earnings per share of $26.29. As a group, stock analysts expect Alphabet Inc. to post earnings per share of 110.83 for the current year.
Alphabetical Profile (Get a rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.
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