Allred Capital Management LLC reduced its position in Alphabet Inc (NASDAQ:GOOGL) by 1.6% in the 3rd quarter, Holdings Channel reports. The firm owned 876 shares of the information services provider’s stock after selling 14 shares during the period. Alphabet makes up 0.8% of Allred Capital Management LLC’s holdings, making the stock its 27th biggest holding. Allred Capital Management LLC’s holdings in Alphabet were worth $1,283,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Scharf Investments LLC lifted its holdings in shares of Alphabet by 2.7% in the 2nd quarter. Scharf Investments LLC now owns 268 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 7 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in Alphabet by 26.9% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 7 shares during the last quarter. CVA Family Office LLC raised its stake in Alphabet by 11.7% during the 2nd quarter. CVA Family Office LLC now owns 67 shares of the information services provider’s stock valued at $95,000 after acquiring an additional 7 shares during the last quarter. AFT Forsyth AND Company Inc. raised its stake in Alphabet by 0.8% during the 2nd quarter. AFT Forsyth AND Company Inc. now owns 911 shares of the information services provider’s stock valued at $1,292,000 after acquiring an additional 7 shares during the last quarter. Finally, Guardian Capital Advisors LP raised its stake in Alphabet by 0.5% during the 2nd quarter. Guardian Capital Advisors LP now owns 1,381 shares of the information services provider’s stock valued at $1,533,000 after acquiring an additional 7 shares during the last quarter. 33.78% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on GOOGL. Barclays upped their price objective on Alphabet from $1,600.00 to $1,800.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Tigress Financial reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, August 25th. Royal Bank of Canada upped their price objective on Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Bank of America upped their price objective on Alphabet from $1,610.00 to $1,730.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, BofA Securities boosted their target price on Alphabet from $1,610.00 to $1,730.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Four investment analysts have rated the stock with a hold rating and forty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $1,679.91.

Shares of NASDAQ GOOGL opened at $1,567.70 on Friday. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,726.10. The company has a market cap of $1,066.29 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.14 and a beta of 1.10. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The stock has a fifty day moving average price of $1,519.73 and a 200 day moving average price of $1,433.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The firm had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. On average, sell-side analysts forecast that Alphabet Inc will post 44.87 EPS for the current fiscal year.

Alphabet Company 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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