Alphabet Inc (GOOGL) Position Cut by Harvard Management Co. Inc.

Harvard Management Co. Inc. reduced its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 69.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,772 shares of the information services provider’s stock after selling 89,186 shares during the period. Alphabet makes up about 10.5% of Harvard Management Co. Inc.’s investment portfolio, making the stock its 4th largest position. Harvard Management Co. Inc.’s holdings in Alphabet were worth $44,910,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Jaffetilchin Investment Partners LLC grew its stake in Alphabet by 7.7% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 572 shares of the information services provider’s stock valued at $646,000 after acquiring an additional 41 shares in the last quarter. Boston Family Office LLC grew its stake in Alphabet by 1.8% during the 2nd quarter. Boston Family Office LLC now owns 2,452 shares of the information services provider’s stock valued at $2,769,000 after acquiring an additional 43 shares in the last quarter. Warren Averett Asset Management LLC grew its stake in Alphabet by 2.7% during the 2nd quarter. Warren Averett Asset Management LLC now owns 1,659 shares of the information services provider’s stock valued at $1,873,000 after acquiring an additional 44 shares in the last quarter. Hollencrest Capital Management grew its stake in Alphabet by 4.1% during the 2nd quarter. Hollencrest Capital Management now owns 1,132 shares of the information services provider’s stock valued at $1,279,000 after acquiring an additional 45 shares in the last quarter. Finally, West Chester Capital Advisors Inc. grew its stake in Alphabet by 11.5% during the 2nd quarter. West Chester Capital Advisors Inc. now owns 437 shares of the information services provider’s stock valued at $494,000 after acquiring an additional 45 shares in the last quarter. 33.40% of the stock is currently owned by hedge funds and other institutional investors.

GOOGL opened at $1,109.65 on Friday. Alphabet Inc has a twelve month low of $984.00 and a twelve month high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.10. The company has a market capitalization of $772.18 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.36 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion during the quarter, compared to analyst estimates of $27.32 billion. Equities analysts expect that Alphabet Inc will post 45.02 earnings per share for the current year.

Several equities analysts have weighed in on GOOGL shares. Macquarie reaffirmed a “buy” rating and set a $1,250.00 target price on shares of Alphabet in a research note on Thursday, September 27th. Pivotal Research reduced their price target on Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a report on Friday, October 12th. MKM Partners lifted their price target on Alphabet from $1,355.00 to $1,465.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Morgan Stanley reiterated an “overweight” rating and set a $1,515.00 price target (up from $1,325.00) on shares of Alphabet in a report on Wednesday, August 29th. Finally, Wedbush assumed coverage on Alphabet in a report on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price target for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $1,330.17.

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Alphabet 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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