Morgan Stanley lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 2,495,917 shares of the information services provider’s stock after selling 59,139 shares during the quarter. Alphabet comprises 0.8% of Morgan Stanley’s investment portfolio, making the stock its 13th largest position. Morgan Stanley’s holdings in Alphabet were worth $3,012,773,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Alphabet by 0.7% during the 2nd quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after acquiring an additional 128,040 shares during the period. FMR LLC lifted its position in shares of Alphabet by 5.5% during the 3rd quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after acquiring an additional 858,589 shares during the period. Northern Trust Corp lifted its position in shares of Alphabet by 0.8% during the 2nd quarter. Northern Trust Corp now owns 3,677,525 shares of the information services provider’s stock valued at $4,152,625,000 after acquiring an additional 28,375 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Alphabet by 118,334.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock valued at $3,968,570,000 after acquiring an additional 3,284,967 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Alphabet by 10.4% during the 3rd quarter. Jennison Associates LLC now owns 1,922,845 shares of the information services provider’s stock valued at $2,321,028,000 after acquiring an additional 181,916 shares during the period. Institutional investors own 42.53% of the company’s stock.

NASDAQ GOOGL opened at $1,190.30 on Friday. Alphabet Inc has a 1 year low of $977.66 and a 1 year high of $1,291.44. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.89. The firm has a market capitalization of $827.48 billion, a PE ratio of 25.05, a PEG ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The firm had revenue of $31.84 billion during the quarter, compared to analyst estimates of $31.28 billion. During the same quarter in the prior year, the business posted $9.70 EPS. Analysts forecast that Alphabet Inc will post 47.38 earnings per share for the current fiscal year.

Several research analysts have weighed in on GOOGL shares. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Monday, February 18th. Guggenheim started coverage on shares of Alphabet in a report on Thursday, December 6th. They set a “buy” rating and a $1,330.00 price objective on the stock. Canaccord Genuity upgraded shares of Alphabet from a “hold” rating to a “buy” rating and upped their price objective for the stock from $1,140.00 to $1,250.00 in a report on Thursday, January 3rd. ValuEngine upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Finally, SunTrust Banks lowered their price objective on shares of Alphabet to $1,350.00 and set a “buy” rating on the stock in a report on Tuesday, February 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,314.86.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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