Cohen Lawrence B decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 992 shares of the information services provider’s stock after selling 77 shares during the period. Cohen Lawrence B’s holdings in Alphabet were worth $922,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of Alaska Department of Revenue bought a new position in Alphabet during the 2nd quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in Alphabet during the 1st quarter valued at $108,000. Delta Asset Management LLC TN boosted its stake in Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares during the last quarter. Farmers National Bank boosted its stake in Alphabet by 2.7% during the 1st quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after acquiring an additional 4 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in Alphabet by 58.3% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after acquiring an additional 56 shares during the last quarter. Institutional investors own 33.88% of the company’s stock.
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A number of brokerages have weighed in on GOOGL. Societe Generale set a $1,210.00 target price on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reissued an “overweight” rating and set a $1,050.00 target price on shares of Alphabet in a report on Saturday, July 22nd. Pivotal Research reissued a “hold” rating and set a $940.00 target price (down from $980.00) on shares of Alphabet in a report on Tuesday, July 25th. Deutsche Bank AG reissued a “buy” rating and set a $1,258.00 target price (up from $1,250.00) on shares of Alphabet in a report on Saturday, July 22nd. Finally, Instinet reissued a “buy” rating on shares of Alphabet in a report on Friday, June 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $1,053.45.
Alphabet Inc. (NASDAQ:GOOGL) traded down 0.4618% during midday trading on Friday, reaching $935.7886. 1,292,738 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $941.05 and a 200 day moving average price of $925.84. The company has a market cap of $648.39 billion, a P/E ratio of 33.9140 and a beta of 0.98. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the prior year, the company earned $8.42 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post $30.59 EPS for the current year.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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