Seaward Management Limited Partnership trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,442 shares of the information services provider’s stock after selling 733 shares during the period. Alphabet accounts for approximately 1.5% of Seaward Management Limited Partnership’s portfolio, making the stock its 23rd largest position. Seaward Management Limited Partnership’s holdings in Alphabet were worth $29,230,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of Alphabet during the second quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Alphabet during the first quarter worth about $108,000. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% during the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of 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 acquiring an additional 36 shares during the period. Finally, Farmers National Bank increased its stake in shares of 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 acquiring an additional 4 shares during the period. 33.87% of the stock is owned by institutional investors and hedge funds.
Shares of Alphabet Inc. (NASDAQ GOOGL) opened at 1033.04 on Wednesday. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,063.62. The firm has a market capitalization of $715.77 billion, a price-to-earnings ratio of 37.44 and a beta of 0.96. The company’s 50-day moving average is $978.58 and its 200-day moving average is $957.33.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. During the same period in the previous year, the company earned $9.06 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post $32.05 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the stock. J P Morgan Chase & Co boosted their price target on shares of Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research note on Saturday, July 22nd. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price target on the stock in a research note on Tuesday, July 25th. UBS AG reiterated an “overweight” rating on shares of Alphabet in a research note on Thursday, August 24th. Stifel Nicolaus boosted their price target on shares of Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Bank of America Corporation reiterated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,087.02.
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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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