Allegis Investment Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,253 shares of the information services provider’s stock after selling 342 shares during the period. Alphabet accounts for approximately 1.0% of Allegis Investment Advisors LLC’s holdings, making the stock its 21st biggest position. Allegis Investment Advisors LLC’s holdings in Alphabet were worth $3,427,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after purchasing an additional 662,279 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares during the last quarter. FMR LLC lifted its holdings in shares of Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Alphabet by 7.8% in the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock valued at $3,607,142,000 after acquiring an additional 280,710 shares during the last quarter. Institutional investors and hedge funds own 34.41% of the company’s stock.

Shares of GOOGL opened at $1,031.45 on Friday. The company has a market capitalization of $710,756.06, a price-to-earnings ratio of 32.18, a PEG ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a twelve month low of $915.31 and a twelve month high of $1,198.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 5.11.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, April 23rd. The information services provider reported $9.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $9.21 by $0.72. The company had revenue of $24.86 billion during the quarter, compared to the consensus estimate of $24.20 billion. Alphabet had a net margin of 14.19% and a return on equity of 15.58%. During the same period last year, the firm earned $7.73 earnings per share. equities analysts predict that Alphabet Inc. will post 40.84 earnings per share for the current fiscal year.

Alphabet announced that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes 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 management believes its stock is undervalued.

A number of research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. William Blair reissued an “outperform” rating on shares of Alphabet in a research note on Thursday, February 1st. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price objective for the company in a research note on Monday, February 5th. Canaccord Genuity reissued a “hold” rating on shares of Alphabet in a research note on Tuesday. Finally, Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price objective for the company. in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $1,189.28.

Alphabet 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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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