Clear Harbor Asset Management LLC decreased its position in Alphabet Inc (NASDAQ:GOOGL) by 12.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,463 shares of the information services provider’s stock after selling 359 shares during the period. Clear Harbor Asset Management LLC’s holdings in Alphabet were worth $2,862,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new stake in Alphabet in the 4th quarter valued at approximately $6,806,866,000. Girard Partners LTD. raised its stake in shares of Alphabet by 9,648.1% during the 1st quarter. Girard Partners LTD. now owns 505,535 shares of the information services provider’s stock worth $6,229,000 after purchasing an additional 500,349 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Alphabet during the 4th quarter worth approximately $332,028,000. Altarock Partners LLC bought a new stake in shares of Alphabet during the 4th quarter worth approximately $308,060,000. Finally, Parnassus Investments CA raised its stake in shares of Alphabet by 52.4% during the 1st quarter. Parnassus Investments CA now owns 642,966 shares of the information services provider’s stock worth $747,094,000 after purchasing an additional 220,952 shares in the last quarter. Hedge funds and other institutional investors own 34.29% of the company’s stock.
GOOGL opened at $1,413.24 on Friday. The firm has a market cap of $960.27 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Alphabet Inc has a 52-week low of $1,008.87 and a 52-week high of $1,530.74. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The business’s fifty day moving average is $1,281.39 and its 200-day moving average is $1,330.33.
A number of equities research analysts have recently issued reports on GOOGL shares. Mizuho upped their price objective on Alphabet from $1,500.00 to $1,560.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. KeyCorp reiterated a “buy” rating and set a $1,769.00 price objective on shares of Alphabet in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $1,800.00 price objective on shares of Alphabet in a research note on Thursday, March 5th. Wedbush boosted their target price on Alphabet from $1,375.00 to $1,550.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. They noted that the move was a valuation call. Finally, SunTrust Banks boosted their target price on Alphabet from $1,350.00 to $1,550.00 and gave the stock a “buy” rating in a report on Friday, April 24th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the stock. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,505.34.
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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