Algert Global LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Algert Global LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 59.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394 shares of the information services provider’s stock after selling 576 shares during the period. Algert Global LLC’s holdings in Alphabet were worth $962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurel Wealth Planning LLC purchased a new stake in shares of Alphabet during the second quarter worth about $27,000. Financial Insights Inc. purchased a new stake in Alphabet in the second quarter valued at approximately $39,000. Harvest Group Wealth Management LLC purchased a new stake in Alphabet in the second quarter valued at approximately $66,000. Cowen Prime Advisors LLC purchased a new stake in Alphabet in the second quarter valued at approximately $98,000. Finally, Capital Advisors Ltd. LLC grew its holdings in Alphabet by 35.9% in the first quarter. Capital Advisors Ltd. LLC now owns 53 shares of the information services provider’s stock valued at $109,000 after purchasing an additional 14 shares during the period. Hedge funds and other institutional investors own 34.43% of the company’s stock.

GOOGL has been the subject of a number of recent analyst reports. Argus boosted their target price on shares of Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Mizuho boosted their target price on shares of Alphabet from $2,800.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. JMP Securities boosted their price objective on shares of Alphabet from $2,850.00 to $3,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Wedbush boosted their price objective on shares of Alphabet from $3,127.00 to $3,424.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Finally, Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $2,818.00 price objective for the company. in a research note on Tuesday, June 29th. Three equities research analysts have rated the stock with a hold rating and thirty-eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $2,884.67.

GOOGL stock traded up $52.36 during midday trading on Thursday, hitting $2,804.00. 21,204 shares of the company traded hands, compared to its average volume of 1,525,323. Alphabet Inc. has a twelve month low of $1,508.48 and a twelve month high of $2,925.07. The company has a quick ratio of 3.14, a current ratio of 3.15 and a debt-to-equity ratio of 0.06. The business has a 50 day simple moving average of $2,793.11 and a 200-day simple moving average of $2,531.99. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.83 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 EPS for the quarter, beating the consensus estimate of $19.89 by $7.37. Alphabet had a return on equity of 27.87% and a net margin of 28.57%. The company had revenue of $50.95 billion for the quarter, compared to the consensus estimate of $46.07 billion. During the same quarter last year, the company posted $10.13 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 101.86 EPS for the current year.

Alphabet Company Profile

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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