Columbus Circle Investors reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 196,792 shares of the information services provider’s stock after selling 22,941 shares during the quarter. Alphabet comprises 3.0% of Columbus Circle Investors’ portfolio, making the stock its biggest holding. Columbus Circle Investors’ holdings in Alphabet were worth $182,954,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in Alphabet during the second quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Alphabet during the first quarter worth about $108,000. Parkside Financial Bank & Trust grew its position in Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares in the last quarter. Farmers National Bank grew its position in Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. grew its position in Alphabet by 58.3% during the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares in the last quarter. 33.68% of the stock is currently owned by institutional investors.
Shares of Alphabet Inc. (GOOGL) opened at $1,050.30 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet Inc. has a 52-week low of $753.36 and a 52-week high of $1,063.62. The company has a market cap of $718,882.88, a PE ratio of 34.64, a price-to-earnings-growth ratio of 1.74 and a beta of 0.91.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. During the same period in the previous year, the firm posted $9.06 EPS. sell-side analysts anticipate that Alphabet Inc. will post 32.34 earnings per share for the current fiscal year.
A number of research analysts have commented on the stock. CIBC restated an “outperform” rating and set a $1,180.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Friday, October 27th. Pivotal Research restated a “hold” rating and set a $940.00 price target (down previously from $980.00) on shares of Alphabet in a research note on Tuesday, July 25th. Citigroup Inc. raised their price target on shares of Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG restated a “buy” rating and set a $1,080.00 price target on shares of Alphabet in a research note on Friday, September 8th. Finally, Robert W. Baird restated an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,088.53.
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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