Alphabet Inc (NASDAQ:GOOGL) Stock Position Lessened by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc lowered its position in Alphabet Inc (NASDAQ:GOOGL) by 9.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,670 shares of the information services provider’s stock after selling 500 shares during the period. Alphabet makes up about 4.5% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 8th largest position. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $5,703,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Alphabet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,536,432 shares of the information services provider’s stock worth $24,402,449,000 after purchasing an additional 302,354 shares during the last quarter. Invesco Ltd. grew its position in Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after purchasing an additional 1,285,824 shares during the last quarter. Northern Trust Corp grew its position in Alphabet by 0.9% during the 2nd quarter. Northern Trust Corp now owns 3,876,945 shares of the information services provider’s stock worth $4,197,956,000 after purchasing an additional 33,408 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after purchasing an additional 3,391,353 shares during the last quarter. Finally, Morgan Stanley grew its position in Alphabet by 3.0% during the 2nd quarter. Morgan Stanley now owns 2,301,237 shares of the information services provider’s stock worth $2,491,779,000 after purchasing an additional 66,773 shares during the last quarter. 33.53% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ GOOGL traded up $25.76 on Monday, hitting $1,290.06. 245,414 shares of the company’s stock traded hands, compared to its average volume of 1,191,427. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,296.97. The firm’s 50-day moving average price is $1,225.03 and its two-hundred day moving average price is $1,177.45. The firm has a market capitalization of $873.06 billion, a PE ratio of 27.22, a P/E/G ratio of 1.48 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. On average, research analysts anticipate that Alphabet Inc will post 51.25 earnings per share for the current fiscal year.

Several research firms have weighed in on GOOGL. Wedbush boosted their target price on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Bank of America reissued a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a research report on Thursday. Monness Crespi & Hardt set a $1,360.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley boosted their target price on shares of Alphabet from $1,400.00 to $1,450.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Cowen set a $1,500.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $1,388.97.

Alphabet Company Profile

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.

Further Reading: Intrinsic Value

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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