Howard Hughes Medical Institute Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Howard Hughes Medical Institute cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 10.1% during the first quarter, Holdings Channel reports. The institutional investor owned 2,950 shares of the information services provider’s stock after selling 332 shares during the period. Howard Hughes Medical Institute’s holdings in Alphabet were worth $2,501,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. NBT Bank N A NY boosted its position in shares of Alphabet by 12.1% in the first quarter. NBT Bank N A NY now owns 4,813 shares of the information services provider’s stock worth $4,080,000 after buying an additional 520 shares in the last quarter. Meritage Portfolio Management boosted its stake in Alphabet by 0.5% in the first quarter. Meritage Portfolio Management now owns 22,117 shares of the information services provider’s stock worth $18,750,000 after buying an additional 109 shares during the period. Acadian Asset Management LLC boosted its stake in Alphabet by 240.5% in the first quarter. Acadian Asset Management LLC now owns 68,212 shares of the information services provider’s stock worth $57,834,000 after buying an additional 48,180 shares during the period. B & T Capital Management DBA Alpha Capital Management boosted its stake in Alphabet by 32.3% in the first quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,553 shares of the information services provider’s stock worth $2,164,000 after buying an additional 623 shares during the period. Finally, Profund Advisors LLC boosted its stake in Alphabet by 8.2% in the first quarter. Profund Advisors LLC now owns 28,909 shares of the information services provider’s stock worth $24,509,000 after buying an additional 2,192 shares during the period. 34.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet Inc. (NASDAQ:GOOGL) opened at 940.81 on Monday. Alphabet Inc. has a 1-year low of $708.11 and a 1-year high of $1,008.61. The firm has a market cap of $650.80 billion, a price-to-earnings ratio of 31.79 and a beta of 1.00. The company has a 50 day moving average of $972.78 and a 200 day moving average of $880.30.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating analysts’ consensus estimates of $7.24 by $0.49. The business had revenue of $20.12 billion during the quarter, compared to the consensus estimate of $19.65 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. During the same quarter last year, the firm earned $7.50 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post $33.95 earnings per share for the current fiscal year.

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A number of equities research analysts have recently weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $1,032.00 price target on shares of Alphabet in a report on Wednesday, May 3rd. FBN Securities cut their price target on Alphabet from $1,050.00 to $1,025.00 and set an “outperform” rating on the stock in a report on Tuesday, July 4th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,030.26 price target on the stock. in a report on Wednesday, July 5th. MKM Partners reaffirmed a “buy” rating and set a $1,170.00 price target on shares of Alphabet in a report on Wednesday, June 28th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and forty have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $1,015.45.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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