Parnassus Investments CA boosted its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 0.0% during the third quarter, HoldingsChannel.com reports. The fund owned 517,653 shares of the information services provider’s stock after acquiring an additional 218 shares during the quarter. Alphabet accounts for 2.1% of Parnassus Investments CA’s investment portfolio, making the stock its 15th largest holding. Parnassus Investments CA’s holdings in Alphabet were worth $504,049,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new stake in Alphabet during the 2nd quarter valued at approximately $102,000. Parkside Financial Bank & Trust grew its holdings in Alphabet by 39.6% during the 2nd 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 grew its holdings in Alphabet by 18.2% during the 2nd 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. Lloyds Banking Group plc purchased a new stake in Alphabet during the 2nd quarter valued at approximately $133,000. Finally, Farmers National Bank grew its holdings in Alphabet by 3.3% during the 2nd quarter. Farmers National Bank now owns 155 shares of the information services provider’s stock valued at $144,000 after buying an additional 5 shares in the last quarter. Institutional investors own 33.55% of the company’s stock.
A number of equities research analysts have issued reports on GOOGL shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $1,075.00 price objective on shares of Alphabet in a report on Monday, September 25th. Jefferies Group reaffirmed a “buy” rating and set a $1,200.00 price objective on shares of Alphabet in a report on Tuesday, October 10th. They noted that the move was a valuation call. Mizuho reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, October 17th. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective for the company. in a report on Friday, October 6th. Finally, Evercore ISI began coverage on shares of Alphabet in a report on Tuesday, December 5th. They set an “outperform” rating for the company. One analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $1,100.06.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period last year, the company earned $9.06 earnings per share. analysts anticipate that Alphabet Inc will post 32.34 EPS for the current year.
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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