Alphabet Inc (NASDAQ:GOOGL) is GAM Holding AG’s 4th Largest Position

GAM Holding AG raised its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,951 shares of the information services provider’s stock after buying an additional 2,514 shares during the quarter. Alphabet comprises about 1.8% of GAM Holding AG’s investment portfolio, making the stock its 4th biggest position. GAM Holding AG’s holdings in Alphabet were worth $26,668,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. State Street Corp grew its holdings in Alphabet by 0.4% during the 1st quarter. State Street Corp now owns 11,689,009 shares of the information services provider’s stock valued at $13,582,044,000 after buying an additional 45,599 shares during the last quarter. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at $6,806,866,000. Geode Capital Management LLC boosted its holdings in Alphabet by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,678,851 shares of the information services provider’s stock valued at $6,254,548,000 after acquiring an additional 110,137 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Alphabet by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 3,069,831 shares of the information services provider’s stock valued at $3,566,990,000 after acquiring an additional 38,653 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Alphabet by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,731,617 shares of the information services provider’s stock valued at $3,658,702,000 after acquiring an additional 57,295 shares during the last quarter. Hedge funds and other institutional investors own 34.24% of the company’s stock.

Several research analysts have commented on the company. Nomura Securities raised their price objective on Alphabet from $1,560.00 to $1,680.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. UBS Group cut their price objective on Alphabet from $1,675.00 to $1,530.00 and set a “buy” rating on the stock in a research report on Monday, March 30th. Monness Crespi & Hardt cut their price objective on Alphabet from $1,535.00 to $1,350.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Citigroup lifted their target price on Alphabet from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Alphabet in a research report on Monday, April 27th. Four research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $1,505.34.

Shares of NASDAQ GOOGL traded down $2.46 during midday trading on Thursday, hitting $1,417.82. 1,125,043 shares of the company’s stock were exchanged, compared to its average volume of 1,963,851. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The stock’s 50 day moving average price is $1,312.93 and its 200-day moving average price is $1,333.71. The firm has a market cap of $969.51 billion, a P/E ratio of 28.83, a PEG ratio of 2.13 and a beta of 1.06. Alphabet Inc has a twelve month low of $1,008.87 and a twelve month high of $1,530.74.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). The business had revenue of $33.71 billion for the quarter, compared to analyst estimates of $32.59 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. During the same quarter in the prior year, the firm posted $9.50 earnings per share. On average, analysts expect that Alphabet Inc will post 41.47 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.

See Also: What are popular green investing opportunities?

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.