Alphabet Inc. (NASDAQ:GOOGL) Position Cut by Cim LLC – Defense World
Posted by admin on Jun 23rd, 2022
Cim LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,136 shares of the information services provider’s stock after selling 942 shares during the quarter. Alphabet comprises 3.4% of Cim LLC’s investment portfolio, making the stock its 7th biggest holding. Cim LLC’s holdings in Alphabet were worth $18,386,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of GOOGL. Morling Financial Advisors LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $29,000. West Bancorporation Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $29,000. Wealthgate Family Office LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $32,000. NS Partners Ltd acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $41,000. Finally, Schubert & Co acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $43,000. 41.70% of the stock is owned by institutional investors.
GOOGL has been the subject of several research reports. StockNews.com cut Alphabet from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Stifel Nicolaus lowered their price objective on Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. BMO Capital Markets lowered their price objective on Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. UBS Group reduced their target price on Alphabet from $3,600.00 to $2,650.00 and set a “buy” rating on the stock in a report on Thursday, June 16th. Finally, Credit Suisse Group reduced their target price on Alphabet from $3,450.00 to $3,400.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. One investment analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $3,297.86.
In related news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the business’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 33 shares of the business’s stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $2,348.39, for a total value of $77,496.87. Following the completion of the sale, the director now directly owns 78 shares of the company’s stock, valued at $183,174.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 550,357 shares of company stock worth $21,855,978. Insiders own 11.44% of the company’s stock.
NASDAQ:GOOGL opened at $2,229.75 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet Inc. has a one year low of $2,037.69 and a one year high of $3,030.93. The business’s 50-day simple moving average is $2,300.45 and its 200 day simple moving average is $2,598.40. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13.
Alphabet shares are scheduled to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The business had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same quarter last year, the firm posted $26.29 EPS. On average, equities research analysts predict that Alphabet Inc. will post 110.83 EPS for the current year.
Alphabet Company Profile (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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June 24, 2022 at 02:49AM