Highland Capital Management LLC Has $23.78 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Highland Capital Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the first quarter, Holdings Channel reports. The fund owned 11,527 shares of the information services provider’s stock after selling 95 shares during the period. Alphabet comprises approximately 1.5% of Highland Capital Management LLC’s holdings, making the stock its 7th biggest position. Highland Capital Management LLC’s holdings in Alphabet were worth $23,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Itau Unibanco Holding S.A. lifted its holdings in shares of Alphabet by 44,364.5% during the fourth quarter. Itau Unibanco Holding S.A. now owns 7,551,846 shares of the information services provider’s stock valued at $25,169,000 after acquiring an additional 7,534,862 shares during the period. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at about $9,523,211,000. Morgan Stanley raised its holdings in shares of Alphabet by 27.1% in the fourth quarter. Morgan Stanley now owns 3,271,179 shares of the information services provider’s stock valued at $5,733,202,000 after buying an additional 697,236 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 6.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,183,875 shares of the information services provider’s stock valued at $12,590,747,000 after buying an additional 447,141 shares during the last quarter. Finally, Viking Global Investors LP raised its holdings in shares of Alphabet by 222.9% in the fourth quarter. Viking Global Investors LP now owns 619,791 shares of the information services provider’s stock valued at $1,086,270,000 after buying an additional 427,842 shares during the last quarter. 33.79% of the stock is owned by institutional investors.

GOOGL opened at $2,343.08 on Tuesday. The firm has a market cap of $1.58 trillion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 1.65 and a beta of 0.99. Alphabet Inc. has a 52-week low of $1,296.01 and a 52-week high of $2,431.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.39 and a current ratio of 3.41. The business’s fifty day moving average is $2,185.49 and its 200-day moving average is $1,918.57.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $15.82 by $10.47. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. During the same quarter last year, the company posted $9.87 EPS. On average, research analysts predict that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.

GOOGL has been the subject of a number of research reports. China Renaissance Securities upgraded Alphabet from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $1,477.00 to $3,000.00 in a research report on Monday. Susquehanna lifted their price objective on Alphabet from $3,000.00 to $3,100.00 and gave the stock a “positive” rating in a research report on Wednesday, April 28th. Jefferies Financial Group lifted their price objective on Alphabet from $2,700.00 to $2,850.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. Barclays boosted their target price on Alphabet from $2,500.00 to $3,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 28th. Finally, Canaccord Genuity boosted their target price on Alphabet from $2,600.00 to $2,800.00 and gave the stock a “buy” rating in a research report on Wednesday, April 28th. One analyst has rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $2,473.33.

About Alphabet

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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