L & S Advisors Inc Sells 4,104 Shares of Alphabet Inc (NASDAQ:GOOGL)

L & S Advisors Inc trimmed its holdings in Alphabet Inc (NASDAQ:GOOGL) by 45.1% in the 2nd quarter, Holdings Channel reports. The fund owned 4,987 shares of the information services provider’s stock after selling 4,104 shares during the quarter. L & S Advisors Inc’s holdings in Alphabet were worth $5,400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Canal Capital Management LLC raised its stake in Alphabet by 0.8% during the fourth quarter. Canal Capital Management LLC now owns 1,172 shares of the information services provider’s stock worth $1,225,000 after acquiring an additional 9 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Alphabet by 7.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 125 shares of the information services provider’s stock worth $140,000 after acquiring an additional 9 shares in the last quarter. Copperwynd Financial LLC raised its stake in Alphabet by 2.1% during the second quarter. Copperwynd Financial LLC now owns 448 shares of the information services provider’s stock worth $485,000 after acquiring an additional 9 shares in the last quarter. Pensionmark Financial Group LLC raised its stake in Alphabet by 4.5% during the second quarter. Pensionmark Financial Group LLC now owns 210 shares of the information services provider’s stock worth $251,000 after acquiring an additional 9 shares in the last quarter. Finally, Shufro Rose & Co. LLC raised its stake in Alphabet by 2.4% during the fourth quarter. Shufro Rose & Co. LLC now owns 434 shares of the information services provider’s stock worth $454,000 after acquiring an additional 10 shares in the last quarter. 33.81% of the stock is owned by institutional investors.

Several research analysts have issued reports on GOOGL shares. Raymond James set a $1,360.00 price objective on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp reiterated an “overweight” rating and set a $1,516.00 price objective (up from $1,430.00) on shares of Alphabet in a research note on Friday, July 26th. Cowen set a $1,500.00 price objective on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price objective on Alphabet to $1,225.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Finally, SunTrust Banks reiterated a “buy” rating and set a $1,325.00 price objective on shares of Alphabet in a research note on Monday, July 22nd. Eight equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,373.76.

Alphabet stock opened at $1,231.90 on Friday. The business’s 50-day simple moving average is $1,191.17 and its 200 day simple moving average is $1,166.46. The stock has a market cap of $836.03 billion, a price-to-earnings ratio of 25.93, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $31.71 billion for the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. As a group, sell-side analysts expect that Alphabet Inc will post 51.29 EPS 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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