Pictet Asset Management Ltd. Sells 1,687 Shares of Alphabet Inc. (GOOGL)

Pictet Asset Management Ltd. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,548 shares of the information services provider’s stock after selling 1,687 shares during the quarter. Alphabet comprises about 0.8% of Pictet Asset Management Ltd.’s holdings, making the stock its 14th largest position. Pictet Asset Management Ltd.’s holdings in Alphabet were worth $258,172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. TD Asset Management Inc. lifted its position in Alphabet by 5.0% during the second quarter. TD Asset Management Inc. now owns 313,149 shares of the information services provider’s stock valued at $291,128,000 after purchasing an additional 14,787 shares during the last quarter. Northstar Wealth Partners LLC lifted its position in Alphabet by 3.7% during the second quarter. Northstar Wealth Partners LLC now owns 696 shares of the information services provider’s stock valued at $661,000 after purchasing an additional 25 shares during the last quarter. Palisade Capital Management LLC NJ lifted its position in Alphabet by 10.7% during the second quarter. Palisade Capital Management LLC NJ now owns 807 shares of the information services provider’s stock valued at $750,000 after purchasing an additional 78 shares during the last quarter. Physicians Financial Services Inc. lifted its position in Alphabet by 3.5% during the second quarter. Physicians Financial Services Inc. now owns 2,883 shares of the information services provider’s stock valued at $2,680,000 after purchasing an additional 98 shares during the last quarter. Finally, Norris Perne & French LLP MI lifted its position in Alphabet by 3.2% during the second quarter. Norris Perne & French LLP MI now owns 21,549 shares of the information services provider’s stock valued at $20,038,000 after purchasing an additional 670 shares during the last quarter. 33.81% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down $2.95 during trading hours on Tuesday, reaching $1,041.20. The company’s stock had a trading volume of 940,700 shares, compared to its average volume of 1,640,443. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The stock has a market cap of $715,830.00, a PE ratio of 34.96, a P/E/G ratio of 1.76 and a beta of 0.91. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,063.62.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period in the prior year, the business earned $9.06 EPS. analysts predict that Alphabet Inc. will post 32.15 EPS for the current year.

A number of brokerages have issued reports on GOOGL. B. Riley reissued a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Sunday, July 30th. MKM Partners reaffirmed a “buy” rating and issued a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and issued a $1,075.00 target price on shares of Alphabet in a research report on Thursday, August 10th. UBS AG reiterated a “buy” rating and issued a $1,080.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $1,200.00 price target on shares of Alphabet in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,088.53.

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Alphabet 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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