Westwood Holdings Group Inc. Has $68.51 Million Position in Alphabet Inc (NASDAQ:GOOGL)

Westwood Holdings Group Inc. reduced its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 11.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,270 shares of the information services provider’s stock after selling 8,161 shares during the period. Westwood Holdings Group Inc.’s holdings in Alphabet were worth $68,509,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Alphabet by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,536,432 shares of the information services provider’s stock worth $24,402,449,000 after acquiring an additional 302,354 shares during the period. Invesco Ltd. grew its holdings in Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after acquiring an additional 1,285,824 shares during the period. Northern Trust Corp grew its holdings in Alphabet by 0.9% during the 2nd quarter. Northern Trust Corp now owns 3,876,945 shares of the information services provider’s stock worth $4,197,956,000 after acquiring an additional 33,408 shares during the period. Thoroughbred Financial Services LLC grew its holdings in Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after acquiring an additional 3,391,353 shares during the period. Finally, Morgan Stanley grew its holdings in Alphabet by 3.0% during the 2nd quarter. Morgan Stanley now owns 2,301,237 shares of the information services provider’s stock worth $2,491,779,000 after acquiring an additional 66,773 shares during the period. Hedge funds and other institutional investors own 33.50% of the company’s stock.

GOOGL has been the subject of a number of recent analyst reports. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, July 13th. KeyCorp restated an “overweight” rating and issued a $1,516.00 target price (up from $1,430.00) on shares of Alphabet in a research note on Friday, July 26th. Bank of America set a $1,450.00 target price on Alphabet and gave the company a “buy” rating in a research note on Friday, September 6th. Nomura restated a “buy” rating and issued a $1,400.00 target price (up from $1,300.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, Jefferies Financial Group raised their target price on Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $1,373.76.

NASDAQ GOOGL traded down $7.41 during trading hours on Friday, hitting $1,231.34. The company’s stock had a trading volume of 81,729 shares, compared to its average volume of 1,118,407. Alphabet Inc has a 52 week low of $977.66 and a 52 week high of $1,296.97. The company has a market capitalization of $852.80 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.37 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $1,194.08 and its two-hundred day simple moving average is $1,170.27.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Research analysts anticipate that Alphabet Inc will post 51.29 EPS for the current fiscal year.

About Alphabet

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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