Alphabet Inc (GOOGL) Position Cut by Terra Nova Asset Management LLC

Terra Nova Asset Management LLC decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,482 shares of the information services provider’s stock after selling 288 shares during the period. Alphabet accounts for approximately 2.9% of Terra Nova Asset Management LLC’s portfolio, making the stock its 8th biggest position. Terra Nova Asset Management LLC’s holdings in Alphabet were worth $1,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. State of Alaska Department of Revenue bought a new position in Alphabet during the second quarter valued at about $102,000. Parkside Financial Bank & Trust raised its holdings in Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after buying an additional 36 shares in the last quarter. Odey Holdings AG raised its holdings in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares in the last quarter. Farmers National Bank raised its holdings in Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. raised its holdings 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 valued at $129,000 after buying an additional 56 shares in the last quarter. 33.53% of the stock is owned by hedge funds and other institutional investors.

GOOGL has been the topic of a number of recent analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research note on Saturday, September 23rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. Zacks Investment Research lowered Alphabet from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Vetr lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective on the stock. in a research note on Friday, October 6th. Finally, Citigroup reiterated a “buy” rating and issued a $1,180.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1,089.17.

Alphabet Inc (NASDAQ GOOGL) opened at $1,068.86 on Monday. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. Alphabet Inc has a 1 year low of $789.62 and a 1 year high of $1,086.49. The firm has a market cap of $739,590.00, a P/E ratio of 35.60, a P/E/G ratio of 1.80 and a beta of 0.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.14. The firm had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. During the same quarter in the previous year, the company posted $9.06 EPS. analysts expect that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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