Gateway Investment Advisers LLC cut its stake in Alphabet Inc (NASDAQ:GOOGL) by 44.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,023 shares of the information services provider’s stock after selling 82,897 shares during the period. Alphabet accounts for approximately 0.9% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 24th largest holding. Gateway Investment Advisers LLC’s holdings in Alphabet were worth $110,631,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gardiner Nancy B increased its holdings in shares of Alphabet by 5.4% during the third quarter. Gardiner Nancy B now owns 1,450 shares of the information services provider’s stock valued at $1,412,000 after purchasing an additional 74 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Alphabet by 1.8% during the second quarter. Public Employees Retirement System of Ohio now owns 213,521 shares of the information services provider’s stock valued at $198,506,000 after purchasing an additional 3,690 shares during the period. Alta Capital Management LLC increased its holdings in shares of Alphabet by 0.7% during the third quarter. Alta Capital Management LLC now owns 76,365 shares of the information services provider’s stock valued at $74,358,000 after purchasing an additional 528 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of Alphabet by 1,908.0% during the third quarter. Beacon Investment Advisory Services Inc. now owns 8,333 shares of the information services provider’s stock valued at $8,114,000 after purchasing an additional 7,918 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Alphabet by 5.9% during the second quarter. Prudential Financial Inc. now owns 668,282 shares of the information services provider’s stock valued at $621,289,000 after purchasing an additional 36,981 shares during the period. 34.38% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Alphabet Inc (GOOGL) opened at $1,134.42 on Friday. Alphabet Inc has a 1 year low of $824.30 and a 1 year high of $1,198.00. The company has a market capitalization of $788,175.81, a PE ratio of 35.44, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. equities analysts predict that Alphabet Inc will post 41.21 earnings per share for the current fiscal year.

Alphabet announced that its board has authorized a share buyback program on Thursday, February 1st that permits the company to buyback $8.59 billion in shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

A number of research analysts recently issued reports on GOOGL shares. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a report on Friday, February 2nd. MKM Partners reaffirmed a “buy” rating and set a $1,355.00 target price (up from $1,210.00) on shares of Alphabet in a report on Wednesday, February 21st. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 target price on the stock in a report on Monday, February 5th. Finally, Aegis reaffirmed a “buy” rating and set a $1,350.00 target price on shares of Alphabet in a report on Sunday, February 4th. One analyst has rated the stock with a sell rating, six have given 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 price target of $1,167.67.

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Alphabet Company 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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