FTB Advisors Inc. Sells 78 Shares of Alphabet Inc (GOOGL)

FTB Advisors Inc. reduced its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,704 shares of the information services provider’s stock after selling 78 shares during the period. FTB Advisors Inc.’s holdings in Alphabet were worth $8,203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Vanguard Group Inc. grew its stake in shares of Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares in the last quarter. BlackRock Inc. grew its stake in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares in the last quarter. FMR LLC grew its stake in shares of Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after purchasing an additional 367,634 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 2.4% in the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after purchasing an additional 102,133 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Alphabet by 7.8% in the second quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after purchasing an additional 280,710 shares in the last quarter. Hedge funds and other institutional investors own 34.38% of the company’s stock.

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Several research analysts recently weighed in on GOOGL shares. SunTrust Banks decreased their target price on Alphabet from $1,250.00 to $1,180.00 in a research note on Monday, January 15th. Argus raised their target price on Alphabet to $1,300.00 in a research note on Monday, February 5th. Robert W. Baird reaffirmed a “buy” rating and set a $1,150.00 target price on shares of Alphabet in a research note on Tuesday, January 2nd. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 target price for the company in a research note on Tuesday, December 26th. Finally, Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price for the company in a research note on Tuesday, December 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,180.37.

Shares of Alphabet stock opened at $1,037.14 on Monday. The stock has a market capitalization of $720,587.25, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 1.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a 1 year low of $834.60 and a 1 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 the consensus estimate of $10.12 by ($0.42). The business had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. research analysts forecast that Alphabet Inc will post 41.21 earnings per share for the current year.

Alphabet announced that its Board of Directors has initiated a stock repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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Alphabet 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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