Ninety One SA PTY Ltd Cuts Stock Position in Alphabet Inc (NASDAQ:GOOGL)

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Ninety One SA PTY Ltd decreased its position in Alphabet Inc (NASDAQ:GOOGL) by 72.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,678 shares of the information services provider’s stock after selling 12,100 shares during the period. Alphabet makes up approximately 2.6% of Ninety One SA PTY Ltd’s holdings, making the stock its 10th biggest position. Ninety One SA PTY Ltd’s holdings in Alphabet were worth $6,528,000 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. Virtus Alternative Investment Advisers Inc. bought a new position in shares of Alphabet in the second quarter worth $45,000. Cedar Mountain Advisors LLC raised its stake in shares of Alphabet by 26.9% during the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 7 shares in the last quarter. Center for Financial Planning Inc. lifted its holdings in Alphabet by 35.5% in the first quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock worth $49,000 after purchasing an additional 11 shares during the period. Watson Rebecca bought a new position in Alphabet in the 2nd quarter valued at about $60,000. Finally, MBE Wealth Management LLC acquired a new position in Alphabet during the 1st quarter valued at about $69,000. Hedge funds and other institutional investors own 33.78% of the company’s stock.

A number of equities analysts have issued reports on GOOGL shares. Wells Fargo & Company reaffirmed a “buy” rating and set a $1,750.00 price target (up from $1,575.00) on shares of Alphabet in a research note on Monday, July 27th. KeyCorp initiated coverage on Alphabet in a research note on Monday. They set an “overweight” rating and a $1,955.00 target price for the company. Susquehanna Bancshares boosted their price target on shares of Alphabet from $1,550.00 to $1,850.00 and gave the stock a “positive” rating in a research report on Friday, July 31st. Mizuho upped their price target on shares of Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Wedbush lifted their price objective on shares of Alphabet from $1,550.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Four research analysts have rated the stock with a hold rating and forty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,666.49.

GOOGL traded up $26.29 during trading on Tuesday, reaching $1,535.12. 1,149,305 shares of the stock traded hands, compared to its average volume of 2,132,642. The stock’s 50-day simple moving average is $1,548.42 and its two-hundred day simple moving average is $1,393.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40. Alphabet Inc has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,726.10. The stock has a market cap of $1,026.25 billion, a price-to-earnings ratio of 33.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. Research analysts anticipate that Alphabet Inc will post 44.74 earnings per share for the current fiscal year.

Alphabet Company 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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