Mitsubishi UFJ Trust & Banking Corp Sells 9,731 Shares of Alphabet Inc (GOOGL)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 648,376 shares of the information services provider’s stock after selling 9,731 shares during the quarter. Alphabet makes up about 1.2% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 9th biggest holding. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Alphabet worth $631,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Bank & Trust raised its position in shares of Alphabet by 0.3% in the second quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after purchasing an additional 2 shares during the period. Fort Pitt Capital Group LLC raised its position in shares of Alphabet by 0.3% in the second quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock valued at $672,000 after purchasing an additional 2 shares during the period. Glassman Wealth Services raised its position in shares of Alphabet by 0.8% in the second quarter. Glassman Wealth Services now owns 376 shares of the information services provider’s stock valued at $350,000 after purchasing an additional 3 shares during the period. Capital Counsel LLC NY raised its position in shares of Alphabet by 0.7% in the second quarter. Capital Counsel LLC NY now owns 602 shares of the information services provider’s stock valued at $560,000 after purchasing an additional 4 shares during the period. Finally, GM Advisory Group Inc. raised its position in shares of Alphabet by 0.4% in the second quarter. GM Advisory Group Inc. now owns 905 shares of the information services provider’s stock valued at $841,000 after purchasing an additional 4 shares during the period. 33.60% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Co reissued a “buy” rating and issued a $1,275.00 price objective on shares of Alphabet in a research report on Friday, February 2nd. Stifel Nicolaus increased their price objective on shares of Alphabet from $1,075.00 to $1,150.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Cowen increased their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Oppenheimer increased their price objective on shares of Alphabet from $1,180.00 to $1,340.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $1,150.00 price objective on shares of Alphabet in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,157.02.

Shares of Alphabet Inc (NASDAQ:GOOGL) opened at $1,072.70 on Thursday. The stock 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. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet Inc has a one year low of $824.30 and a one year high of $1,198.00.

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

Alphabet announced that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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About Alphabet

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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