Kovitz Investment Group Partners LLC Cuts Holdings in Alphabet Inc. (GOOGL)

Kovitz Investment Group Partners LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,772 shares of the information services provider’s stock after selling 88 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Alphabet were worth $21,171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its stake in Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after buying an additional 142,214 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Alphabet by 0.8% in the 2nd quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock valued at $1,017,719,000 after purchasing an additional 8,375 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Alphabet by 2.6% in the 1st quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock valued at $908,302,000 after purchasing an additional 27,598 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Alphabet by 4.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 994,541 shares of the information services provider’s stock valued at $843,172,000 after purchasing an additional 45,805 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of Alphabet by 9.9% in the 1st quarter. Boston Partners now owns 970,802 shares of the information services provider’s stock valued at $823,046,000 after purchasing an additional 87,783 shares in the last quarter. 33.87% of the stock is owned by institutional investors and hedge funds.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same quarter in the previous year, the firm earned $9.06 earnings per share.

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A number of equities research analysts have recently issued reports on GOOGL shares. CIBC reaffirmed an “outperform” rating and issued a $1,180.00 price objective (up previously from $1,050.00) on shares of Alphabet in a research note on Friday, October 27th. Societe Generale set a $1,210.00 price objective on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a research note on Saturday, July 22nd. Pivotal Research reaffirmed a “hold” rating and issued a $940.00 price objective (down previously from $980.00) on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $1,258.00 price objective (up previously from $1,250.00) on shares of Alphabet in a research note on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,088.02.

Alphabet Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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