DSM Capital Partners LLC Sells 92,303 Shares of Alphabet Inc (GOOGL)

DSM Capital Partners LLC decreased its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 19.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 377,715 shares of the information services provider’s stock after selling 92,303 shares during the quarter. Alphabet accounts for about 5.2% of DSM Capital Partners LLC’s holdings, making the stock its 7th biggest position. DSM Capital Partners LLC owned about 0.05% of Alphabet worth $367,789,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legacy Capital Partners Inc. raised its holdings in Alphabet by 0.8% in the 2nd quarter. Legacy Capital Partners Inc. now owns 600 shares of the information services provider’s stock valued at $558,000 after acquiring an additional 5 shares during the last quarter. Lyell Wealth Management LP raised its holdings in Alphabet by 2.9% in the 2nd quarter. Lyell Wealth Management LP now owns 4,822 shares of the information services provider’s stock valued at $4,483,000 after acquiring an additional 134 shares during the last quarter. Grandfield & Dodd LLC raised its holdings in Alphabet by 12.8% in the 2nd quarter. Grandfield & Dodd LLC now owns 1,118 shares of the information services provider’s stock valued at $1,039,000 after acquiring an additional 127 shares during the last quarter. Exchange Capital Management Inc. raised its holdings in Alphabet by 0.6% in the 2nd quarter. Exchange Capital Management Inc. now owns 8,002 shares of the information services provider’s stock valued at $7,439,000 after acquiring an additional 44 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. raised its holdings in Alphabet by 22.5% in the 2nd quarter. Lockheed Martin Investment Management Co. now owns 8,110 shares of the information services provider’s stock valued at $7,540,000 after acquiring an additional 1,490 shares during the last quarter. 33.60% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on GOOGL. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. William Blair reiterated an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price target for the company in a report on Monday, February 5th. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective for the company. in a report on Friday, February 2nd. Finally, Barclays upped their price objective on Alphabet from $1,260.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,157.02.

Alphabet Inc (NASDAQ:GOOGL) opened at $1,072.70 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. The firm has a market cap of $744,730.00, a PE ratio of 59.73, a price-to-earnings-growth ratio of 1.09 and a beta of 0.95. Alphabet Inc has a 12-month low of $824.30 and a 12-month high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The company had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. equities research analysts predict that Alphabet Inc will post 42.51 earnings per share for the current year.

Alphabet announced that its board has authorized a stock repurchase program on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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