CenturyLink Investment Management Co Sells 357 Shares of Alphabet Inc (NASDAQ:GOOGL)

CenturyLink Investment Management Co decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 14.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,110 shares of the information services provider’s stock after selling 357 shares during the quarter. Alphabet accounts for about 1.2% of CenturyLink Investment Management Co’s investment portfolio, making the stock its 13th biggest position. CenturyLink Investment Management Co’s holdings in Alphabet were worth $2,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lodestar Investment Counsel LLC IL boosted its holdings in shares of Alphabet by 0.8% in the second quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock valued at $4,923,000 after purchasing an additional 34 shares during the period. Essex Financial Services Inc. boosted its holdings in shares of Alphabet by 4.1% in the second quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock valued at $4,446,000 after purchasing an additional 160 shares during the period. Pacific Wealth Strategies Group Inc. boosted its holdings in shares of Alphabet by 2.7% in the third quarter. Pacific Wealth Strategies Group Inc. now owns 3,283 shares of the information services provider’s stock valued at $4,009,000 after purchasing an additional 87 shares during the period. Carlson Capital L P boosted its holdings in shares of Alphabet by 19.2% in the second quarter. Carlson Capital L P now owns 24,425 shares of the information services provider’s stock valued at $26,447,000 after purchasing an additional 3,935 shares during the period. Finally, Hemenway Trust Co LLC boosted its holdings in shares of Alphabet by 2.1% in the second quarter. Hemenway Trust Co LLC now owns 18,121 shares of the information services provider’s stock valued at $19,621,000 after purchasing an additional 378 shares during the period. 33.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on the company. Stifel Nicolaus reiterated a “hold” rating and issued a $1,287.00 price target on shares of Alphabet in a report on Tuesday, July 23rd. KeyCorp reiterated an “overweight” rating and issued a $1,516.00 price target (up previously from $1,430.00) on shares of Alphabet in a report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a report on Friday, July 26th. SunTrust Banks reiterated a “buy” rating and issued a $1,325.00 price target on shares of Alphabet in a report on Monday, July 22nd. Finally, BMO Capital Markets boosted their price target on Alphabet to $1,225.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $1,375.78.

Shares of GOOGL stock opened at $1,243.00 on Thursday. The business’s fifty day simple moving average is $1,212.98 and its 200-day simple moving average is $1,175.12. The company has a market cap of $861.90 billion, a PE ratio of 26.16, a PEG ratio of 1.43 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. On average, equities analysts forecast that Alphabet Inc will post 51.29 earnings per share for the current year.

About Alphabet

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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