Barings LLC Cuts Holdings in Alphabet Inc (GOOGL)

Barings LLC lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 37.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,153 shares of the information services provider’s stock after selling 8,890 shares during the quarter. Barings LLC’s holdings in Alphabet were worth $14,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Koch Industries Inc. boosted its stake in shares of Alphabet by 181,219.4% during the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 1,085,504 shares during the period. Vanguard Group Inc. boosted its stake in shares of Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after purchasing an additional 662,279 shares during the period. BlackRock Inc. boosted its stake in shares of Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after purchasing an additional 567,337 shares during the period. FMR LLC boosted its stake in shares of Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after purchasing an additional 367,634 shares during the period. Finally, State of Wisconsin Investment Board raised its holdings in shares of Alphabet by 68.2% during the third quarter. State of Wisconsin Investment Board now owns 708,458 shares of the information services provider’s stock valued at $689,840,000 after acquiring an additional 287,287 shares in the last quarter. 33.60% of the stock is owned by institutional investors and hedge funds.

Alphabet Inc (GOOGL) opened at $1,072.70 on Thursday. Alphabet Inc has a twelve month low of $824.30 and a twelve month high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $744,730.00, a price-to-earnings ratio of 59.73, a PEG ratio of 1.09 and a beta of 0.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. sell-side analysts anticipate that Alphabet Inc will post 42.51 EPS for the current fiscal year.

Alphabet declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of equities analysts recently commented on GOOGL shares. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a report on Tuesday, October 24th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price for the company in a report on Tuesday, December 26th. SunTrust Banks decreased their target price on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Cowen upped their target price on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 target price for the company in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $1,157.02.

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Alphabet 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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