Calamos Wealth Management LLC Reduced Holding in Alphabet Inc (GOOGL)

Calamos Wealth Management LLC Reduced Holding in Alphabet Inc (GOOGL)

Calamos Wealth Management LLC reduced its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 4.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,598 shares of the information services provider’s stock after selling 719 shares during the quarter. Alphabet makes up approximately 2.2% of Calamos Wealth Management LLC’s holdings, making the stock its 7th biggest position. Calamos Wealth Management LLC’s holdings in Alphabet were worth $17,621,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. BlackRock Inc. lifted its holdings in 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 purchasing an additional 128,040 shares during the last quarter. Northern Trust Corp lifted its holdings in 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 purchasing an additional 28,375 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Alphabet by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after purchasing an additional 24,188 shares during the last quarter. Jennison Associates LLC lifted its holdings in Alphabet by 10.1% during the 2nd quarter. Jennison Associates LLC now owns 1,740,929 shares of the information services provider’s stock valued at $1,965,840,000 after purchasing an additional 159,959 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Alphabet by 115,058.0% during the second quarter. Cornerstone Wealth Management LLC now owns 1,388,805 shares of the information services provider’s stock worth $1,216,000 after buying an additional 1,387,599 shares in the last quarter. 33.32% of the stock is owned by institutional investors.

Alphabet stock opened at $1,085.37 on Wednesday. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,291.44. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $750.20 billion, a price-to-earnings ratio of 33.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion for the quarter, compared to analysts’ expectations of $27.32 billion. As a group, equities analysts anticipate that Alphabet Inc will post 45.32 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on GOOGL shares. Goldman Sachs Group dropped their target price on Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating for the company in a report on Friday, October 26th. Bank of America dropped their target price on Alphabet from $1,390.00 to $1,350.00 and set a “buy” rating for the company in a report on Friday, October 26th. Monness Crespi & Hardt dropped their target price on Alphabet from $1,415.00 to $1,315.00 and set a “buy” rating for the company in a report on Friday, October 26th. Wedbush set a $1,350.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, October 26th. Finally, Macquarie reissued a “buy” rating and set a $1,250.00 target price on shares of Alphabet in a report on Thursday, September 27th. Three analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,342.11.

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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