Tocqueville Asset Management L.P. decreased its position in Alphabet Inc (NASDAQ:GOOGL) by 28.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 50,017 shares of the information services provider’s stock after selling 19,756 shares during the period. Alphabet makes up 1.0% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 18th largest position. Tocqueville Asset Management L.P.’s holdings in Alphabet were worth $66,992,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Roof Eidam & Maycock ADV acquired a new position in Alphabet during the 3rd quarter valued at approximately $33,000. Garrett Wealth Advisory Group LLC acquired a new position in Alphabet during the 3rd quarter valued at approximately $39,000. Vista Private Wealth Partners. LLC acquired a new position in Alphabet during the 3rd quarter valued at approximately $60,000. Investors Research Corp boosted its position in Alphabet by 72.4% during the 3rd quarter. Investors Research Corp now owns 50 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 21 shares during the period. Finally, Enterprise Trust & Investment Co boosted its position in Alphabet by 256.3% during the 3rd quarter. Enterprise Trust & Investment Co now owns 57 shares of the information services provider’s stock valued at $70,000 after purchasing an additional 41 shares during the period. Institutional investors own 33.55% of the company’s stock.
A number of research analysts recently issued reports on GOOGL shares. KeyCorp boosted their price objective on Alphabet from $1,516.00 to $1,546.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Guggenheim reduced their price target on Alphabet from $1,525.00 to $1,460.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Evercore ISI reiterated a “positive” rating and set a $1,600.00 price target (up previously from $1,350.00) on shares of Alphabet in a research report on Monday. Citigroup reiterated a “buy” rating and set a $1,500.00 price target (up previously from $1,450.00) on shares of Alphabet in a research report on Tuesday, December 3rd. Finally, Monness Crespi & Hardt set a $1,360.00 price target on Alphabet and gave the stock a “buy” rating in a research report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and forty have given a buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,438.05.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The firm had revenue of $33.01 billion during the quarter, compared to the consensus estimate of $32.84 billion. During the same period in the prior year, the firm posted $13.06 EPS. On average, equities analysts forecast that Alphabet Inc will post 49.03 earnings per share for the current year.
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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