Old Mutual Global Investors UK Ltd. Sells 173,489 Shares of Alphabet Inc. (GOOGL)

Old Mutual Global Investors UK Ltd. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 88.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,912 shares of the information services provider’s stock after selling 173,489 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Alphabet were worth $18,576,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Mayo Investment Advisers LLC raised its position in shares of Alphabet by 1.2% in the fourth quarter. Mayo Investment Advisers LLC now owns 28,089 shares of the information services provider’s stock worth $22,259,000 after buying an additional 340 shares during the period. Bank of Nova Scotia Trust Co. raised its position in shares of Alphabet by 2.1% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 8,788 shares of the information services provider’s stock worth $6,964,000 after buying an additional 180 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock worth $116,000 after buying an additional 115,537 shares during the period. Polen Capital Management LLC raised its position in shares of Alphabet by 6.6% in the fourth quarter. Polen Capital Management LLC now owns 487,960 shares of the information services provider’s stock worth $386,684,000 after buying an additional 30,075 shares during the period. Finally, Lyell Wealth Management LP acquired a new position in shares of Alphabet during the fourth quarter worth about $3,497,000. Institutional investors and hedge funds own 34.31% of the company’s stock.

Alphabet Inc. (NASDAQ GOOGL) opened at 930.09 on Friday. The firm has a market cap of $644.44 billion, a price-to-earnings ratio of 33.71 and a beta of 0.99. The stock has a 50 day moving average price of $956.22 and a 200-day moving average price of $908.99. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the prior year, the business earned $8.42 EPS. Equities analysts forecast that Alphabet Inc. will post $30.59 earnings per share for the current year.

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GOOGL has been the subject of several recent research reports. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 price objective for the company in a research note on Tuesday, June 27th. Pacific Crest reissued an “overweight” rating and issued a $1,040.00 price objective on shares of Alphabet in a research note on Sunday, April 23rd. Societe Generale set a $1,210.00 price objective on Alphabet and gave the company a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reissued an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Wednesday, May 24th. Finally, Instinet reissued a “buy” rating and issued a $925.00 price objective on shares of Alphabet in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,049.20.

Alphabet Company Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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