Clear Harbor Asset Management LLC Has $2.86 Million Position in Alphabet Inc (NASDAQ:GOOGL)

Clear Harbor Asset Management LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 12.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,463 shares of the information services provider’s stock after selling 359 shares during the period. Clear Harbor Asset Management LLC’s holdings in Alphabet were worth $2,862,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. 20 20 Capital Management Inc. grew its holdings in Alphabet by 8.2% during the first quarter. 20 20 Capital Management Inc. now owns 184 shares of the information services provider’s stock valued at $252,000 after purchasing an additional 14 shares during the last quarter. Albion Financial Group UT grew its holdings in Alphabet by 2.5% during the first quarter. Albion Financial Group UT now owns 9,174 shares of the information services provider’s stock valued at $10,660,000 after purchasing an additional 228 shares during the last quarter. Renaissance Investment Group LLC grew its holdings in Alphabet by 2.1% during the first quarter. Renaissance Investment Group LLC now owns 4,996 shares of the information services provider’s stock valued at $5,805,000 after purchasing an additional 104 shares during the last quarter. Oakview Capital Management L.P. acquired a new position in Alphabet during the first quarter valued at approximately $10,230,000. Finally, Edge Capital Group LLC grew its holdings in Alphabet by 37.8% during the first quarter. Edge Capital Group LLC now owns 1,173 shares of the information services provider’s stock valued at $1,363,000 after purchasing an additional 322 shares during the last quarter. Institutional investors own 34.29% of the company’s stock.

Alphabet stock opened at $1,413.24 on Friday. The stock has a 50-day simple moving average of $1,281.39 and a 200 day simple moving average of $1,330.33. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,530.74. The stock has a market capitalization of $960.27 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.11 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $11.16 by ($1.29). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The business had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. During the same period in the prior year, the firm earned $9.50 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc will post 41.47 EPS for the current year.

Several equities research analysts have recently issued reports on GOOGL shares. Citigroup raised their price objective on shares of Alphabet from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Wells Fargo & Co restated a “buy” rating and issued a $1,500.00 price objective on shares of Alphabet in a research note on Monday, April 27th. Credit Suisse Group raised their price objective on shares of Alphabet from $1,500.00 to $1,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating and issued a $1,550.00 price objective (up previously from $1,400.00) on shares of Alphabet in a research note on Wednesday, April 29th. Finally, Nomura Instinet raised their price objective on shares of Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a hold rating and forty-three have assigned a buy rating to the stock. Alphabet has an average rating of “Buy” and an average price target of $1,505.34.

Alphabet 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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