Colorado Capital Management Inc. Reduces Position in Alphabet Inc (NASDAQ:GOOGL)

Colorado Capital Management Inc. lessened its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 15.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203 shares of the information services provider’s stock after selling 38 shares during the period. Colorado Capital Management Inc.’s holdings in Alphabet were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. State Street Corp grew its stake in shares of Alphabet by 0.6% in the 4th quarter. State Street Corp now owns 11,643,410 shares of the information services provider’s stock valued at $15,595,067,000 after buying an additional 72,165 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $6,806,866,000. Geode Capital Management LLC grew its stake in shares of Alphabet by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 4,678,851 shares of the information services provider’s stock valued at $6,254,548,000 after buying an additional 110,137 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,069,831 shares of the information services provider’s stock valued at $3,566,990,000 after buying an additional 38,653 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Alphabet by 2.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,731,617 shares of the information services provider’s stock valued at $3,658,702,000 after buying an additional 57,295 shares during the period. 34.29% of the stock is owned by institutional investors.

NASDAQ GOOGL opened at $1,413.24 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The firm’s fifty day moving average price is $1,281.39 and its 200 day moving average price is $1,330.33. The company has a market capitalization of $960.27 billion, a price-to-earnings ratio of 28.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Alphabet Inc has a 12 month low of $1,008.87 and a 12 month high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). The company had revenue of $33.71 billion during the quarter, compared to analysts’ expectations of $32.59 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. During the same period last year, the business earned $9.50 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc will post 41.47 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Credit Suisse Group increased their price objective on shares of Alphabet from $1,500.00 to $1,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Independent Research raised shares of Alphabet to a “buy” rating and set a $1,520.00 price objective for the company in a research report on Friday, March 13th. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Societe Generale lowered their price objective on shares of Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,344.00 price objective for the company in a research report on Monday, April 20th. Four investment analysts have rated the stock with a hold rating and forty-three have given a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,505.34.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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