Raymond James Trust N.A. lowered its position in shares of Alphabet Inc (NASDAQ:GOOGL) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,212 shares of the information services provider’s stock after selling 80 shares during the period. Raymond James Trust N.A.’s holdings in Alphabet were worth $12,035,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Virtus Alternative Investment Advisers Inc. bought a new stake in Alphabet during the second quarter valued at about $45,000. Cedar Mountain Advisors LLC boosted its holdings in Alphabet by 26.9% in the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after acquiring an additional 7 shares in the last quarter. Watson Rebecca acquired a new stake in Alphabet in the second quarter worth about $60,000. Virtus ETF Advisers LLC acquired a new stake in Alphabet in the second quarter worth about $84,000. Finally, CVA Family Office LLC acquired a new stake in Alphabet in the first quarter worth about $70,000. 33.78% of the stock is currently owned by institutional investors.
Shares of NASDAQ:GOOGL opened at $1,567.70 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40. The business’s 50 day moving average price is $1,519.73 and its 200-day moving average price is $1,433.08. The firm has a market capitalization of $1,066.29 billion, a PE ratio of 34.48, a P/E/G ratio of 2.14 and a beta of 1.10. Alphabet Inc has a 1 year low of $1,008.87 and a 1 year high of $1,726.10.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. As a group, analysts expect that Alphabet Inc will post 44.87 earnings per share for the current year.
GOOGL has been the subject of several recent analyst reports. 140166 raised their price target on Alphabet from $1,550.00 to $1,850.00 and gave the stock a “positive” rating in a report on Friday, July 31st. Credit Suisse Group raised their price target on Alphabet from $1,600.00 to $1,850.00 and gave the stock an “outperform” rating in a report on Monday, July 20th. Needham & Company LLC reissued a “buy” rating and issued a $1,800.00 price target on shares of Alphabet in a report on Friday, July 31st. Stifel Nicolaus cut Alphabet from a “buy” rating to a “hold” rating and raised their price objective for the stock from $1,550.00 to $1,600.00 in a research note on Friday, July 31st. Finally, Barclays raised their price objective on Alphabet from $1,600.00 to $1,800.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a hold rating and forty-two have assigned a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,679.91.
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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