First Financial Bank Trust Division decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 1st quarter, Holdings Channel reports. The fund owned 736 shares of the information services provider’s stock after selling 17 shares during the quarter. First Financial Bank Trust Division’s holdings in Alphabet were worth $1,518,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Kinloch Capital LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $28,000. Resolute Partners Group bought a new stake in Alphabet during the 4th quarter worth approximately $28,000. ForthRight Wealth Management LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $32,000. Cowa LLC bought a new position in Alphabet in the fourth quarter valued at approximately $38,000. Finally, Cypress Point Wealth Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 33.79% of the company’s stock.
Several research firms recently commented on GOOGL. Canaccord Genuity reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 3rd. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Wells Fargo & Company increased their price objective on Alphabet from $1,800.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Robert W. Baird boosted their target price on Alphabet to $2,000.00 in a research note on Thursday, December 31st. Finally, Barclays raised their price target on shares of Alphabet from $1,900.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 3rd. One analyst has rated the stock with a hold rating and forty-two have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $2,108.21.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $15.90 by $6.40. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The company had revenue of $46.43 billion during the quarter, compared to analysts’ expectations of $44.09 billion. During the same quarter in the previous year, the business posted $15.35 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 52.19 EPS for the current fiscal year.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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