Sawgrass Asset Management LLC grew its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 30.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,845 shares of the information services provider’s stock after purchasing an additional 19,527 shares during the period. Alphabet makes up about 4.4% of Sawgrass Asset Management LLC’s holdings, making the stock its 2nd largest position. Sawgrass Asset Management LLC’s holdings in Alphabet were worth $86,569,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Capital Insight Partners LLC boosted its position in shares of Alphabet by 0.4% in the 4th quarter. Capital Insight Partners LLC now owns 2,554 shares of the information services provider’s stock worth $2,669,000 after buying an additional 10 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Alphabet by 4.0% in the 4th quarter. Clarkston Capital Partners LLC now owns 260 shares of the information services provider’s stock worth $272,000 after buying an additional 10 shares in the last quarter. Community Bank & Trust Waco Texas boosted its position in shares of Alphabet by 0.8% in the 4th quarter. Community Bank & Trust Waco Texas now owns 1,286 shares of the information services provider’s stock worth $1,344,000 after buying an additional 10 shares in the last quarter. Shufro Rose & Co. LLC boosted its position in shares of Alphabet by 2.4% in the 4th quarter. Shufro Rose & Co. LLC now owns 434 shares of the information services provider’s stock worth $454,000 after buying an additional 10 shares in the last quarter. Finally, South Texas Money Management Ltd. boosted its position in shares of Alphabet by 3.1% in the 4th quarter. South Texas Money Management Ltd. now owns 329 shares of the information services provider’s stock worth $344,000 after buying an additional 10 shares in the last quarter. Institutional investors own 33.56% of the company’s stock.

A number of research analysts have recently commented on the stock. Nomura dropped their price objective on shares of Alphabet from $1,310.00 to $1,300.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price for the company. in a research report on Tuesday, April 30th. Deutsche Bank increased their target price on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. BMO Capital Markets increased their target price on shares of Alphabet from $1,100.00 to $1,200.00 and gave the stock a “market perform” rating in a research report on Thursday, April 25th. They noted that the move was a valuation call. Finally, JMP Securities reissued an “outperform” rating and set a $1,375.00 target price (up previously from $1,300.00) on shares of Alphabet in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,328.88.

NASDAQ GOOGL opened at $1,147.89 on Friday. The company has a market capitalization of $801.46 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.36 and a beta of 1.03. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,296.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.56 by $1.34. The firm had revenue of $29.48 billion during the quarter, compared to analysts’ expectations of $29.99 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. During the same quarter in the prior year, the business earned $13.33 EPS. As a group, sell-side analysts forecast that Alphabet Inc will post 48.44 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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