Bank of The West cut its holdings in Alphabet Inc (NASDAQ:GOOGL) by 0.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,611 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet makes up about 2.7% of Bank of The West’s portfolio, making the stock its 4th biggest holding. Bank of The West’s holdings in Alphabet were worth $22,727,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Garrett Wealth Advisory Group LLC bought a new position in Alphabet during the 3rd quarter valued at about $39,000. Litman Gregory Asset Management LLC bought a new position in Alphabet during the 2nd quarter valued at about $37,000. Lipe & Dalton bought a new position in Alphabet during the 2nd quarter valued at about $49,000. Johnson Financial Group Inc. grew its holdings in Alphabet by 26.3% during the 2nd quarter. Johnson Financial Group Inc. now owns 48 shares of the information services provider’s stock valued at $52,000 after purchasing an additional 10 shares during the last quarter. Finally, Vista Private Wealth Partners. LLC purchased a new stake in Alphabet in the 3rd quarter valued at about $60,000. Hedge funds and other institutional investors own 33.53% of the company’s stock.
Shares of GOOGL opened at $1,288.98 on Tuesday. The company has a 50 day moving average price of $1,229.03 and a 200-day moving average price of $1,178.46. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,299.24. The stock has a market capitalization of $873.06 billion, a PE ratio of 27.13, a PEG ratio of 1.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the consensus estimate of $12.55 by ($2.43). Alphabet had a return on equity of 20.15% and a net margin of 23.43%. During the same quarter in the previous year, the firm posted $13.06 earnings per share. Equities research analysts forecast that Alphabet Inc will post 51.25 EPS for the current year.
GOOGL has been the subject of several research reports. Citigroup reissued a “buy” rating and issued a $1,450.00 price objective (up from $1,325.00) on shares of Alphabet in a research report on Friday, July 26th. MKM Partners reissued a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a research report on Friday, August 2nd. Cowen set a $1,500.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, July 26th. Susquehanna Bancshares boosted their price objective on shares of Alphabet to $1,550.00 in a research report on Friday, July 26th. Finally, KeyCorp reissued an “overweight” rating and issued a $1,516.00 price objective (up from $1,430.00) on shares of Alphabet in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $1,391.11.
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.
Featured Article: How to identify percentage decliners
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.