Koss Olinger Consulting LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98 shares of the information services provider’s stock after selling 20 shares during the period. Koss Olinger Consulting LLC’s holdings in Alphabet were worth $239,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. First Interstate Bank bought a new position in Alphabet during the 2nd quarter valued at $8,822,000. Triumph Capital Management purchased a new stake in shares of Alphabet in the second quarter valued at about $1,054,000. Psagot Investment House Ltd. lifted its position in shares of Alphabet by 43.0% during the first quarter. Psagot Investment House Ltd. now owns 13,016 shares of the information services provider’s stock valued at $26,846,000 after purchasing an additional 3,917 shares in the last quarter. Sargent Bickham Lagudis LLC boosted its holdings in Alphabet by 1.7% during the second quarter. Sargent Bickham Lagudis LLC now owns 5,405 shares of the information services provider’s stock worth $13,198,000 after purchasing an additional 92 shares during the last quarter. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Alphabet by 64.7% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 3,333 shares of the information services provider’s stock worth $8,304,000 after buying an additional 1,309 shares in the last quarter. Institutional investors own 34.43% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Susquehanna Bancshares raised their target price on Alphabet from $3,100.00 to $3,600.00 and gave the company a “positive” rating in a research report on Wednesday, July 28th. Stifel Nicolaus boosted their target price on shares of Alphabet from $2,700.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. KGI Securities started coverage on shares of Alphabet in a research note on Wednesday, June 2nd. They set an “outperform” rating and a $3,000.00 price target for the company. Truist upped their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the company a “buy” rating in a research note on Wednesday, July 28th. Finally, BMO Capital Markets raised their target price on Alphabet from $2,700.00 to $3,000.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating and thirty-nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $2,846.21.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share for the quarter, beating the Zacks’ 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 business 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 business posted $10.13 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 101.86 EPS for the current fiscal 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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