Mackay Shields LLC Decreases Stock Holdings in Alphabet Inc (NASDAQ:GOOGL)

Mackay Shields LLC trimmed its position in Alphabet Inc (NASDAQ:GOOGL) by 12.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 90,615 shares of the information services provider’s stock after selling 12,747 shares during the period. Alphabet makes up 0.8% of Mackay Shields LLC’s holdings, making the stock its 11th biggest holding. Mackay Shields LLC’s holdings in Alphabet were worth $121,369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Evermay Wealth Management LLC increased its position in Alphabet by 18.2% during the 4th quarter. Evermay Wealth Management LLC now owns 2,457 shares of the information services provider’s stock valued at $3,291,000 after purchasing an additional 379 shares during the period. Mandatum Life Insurance Co Ltd increased its position in Alphabet by 170.3% during the 4th quarter. Mandatum Life Insurance Co Ltd now owns 1,933 shares of the information services provider’s stock valued at $2,589,000 after purchasing an additional 1,218 shares during the period. Rathbone Brothers plc increased its position in Alphabet by 5.2% during the 4th quarter. Rathbone Brothers plc now owns 70,789 shares of the information services provider’s stock valued at $94,814,000 after purchasing an additional 3,531 shares during the period. Busey Wealth Management increased its position in Alphabet by 0.5% during the 4th quarter. Busey Wealth Management now owns 6,608 shares of the information services provider’s stock valued at $8,851,000 after purchasing an additional 32 shares during the period. Finally, Greenwoods Asset Management Ltd purchased a new position in Alphabet during the 4th quarter valued at $1,272,000. 33.33% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on the stock. Pivotal Research reissued a “buy” rating and set a $1,700.00 price objective (up from $1,650.00) on shares of Alphabet in a research report on Tuesday, February 4th. Piper Jaffray Companies assumed coverage on shares of Alphabet in a research report on Tuesday, December 3rd. They set an “overweight” rating and a $1,500.00 price objective on the stock. Bank of America reissued a “buy” rating and set a $1,620.00 price objective on shares of Alphabet in a research report on Tuesday, February 4th. Monness Crespi & Hardt boosted their target price on shares of Alphabet from $1,360.00 to $1,535.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Alphabet in a report on Sunday, January 19th. Six analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,523.89.

GOOGL traded up $24.30 during midday trading on Friday, hitting $1,339.25. 4,008,587 shares of the company traded hands, compared to its average volume of 1,881,456. The company has a quick ratio of 3.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $920.44 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02. The company’s 50-day moving average is $1,465.24 and its 200 day moving average is $1,315.87. Alphabet Inc has a 52 week low of $1,027.03 and a 52 week high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 3rd. The information services provider reported $15.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $12.76 by $2.59. Alphabet had a net margin of 21.22% and a return on equity of 18.66%. The firm had revenue of $37.57 billion during the quarter, compared to analyst estimates of $38.44 billion. During the same quarter in the prior year, the firm earned $12.77 EPS. On average, sell-side analysts predict that Alphabet Inc will post 54.54 earnings per share for the current fiscal year.

Alphabet Company 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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