Terra Nova Asset Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,797 shares of the information services provider’s stock after selling 282 shares during the period. Alphabet accounts for about 3.0% of Terra Nova Asset Management LLC’s portfolio, making the stock its 5th largest position. Terra Nova Asset Management LLC’s holdings in Alphabet were worth $1,523,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of GOOGL. Delta Asset Management LLC TN raised its position in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock worth $129,000 after buying an additional 56 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Alphabet by 22.6% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 179 shares of the information services provider’s stock worth $152,000 after buying an additional 33 shares in the last quarter. Finally, Cordasco Financial Network raised its position in Alphabet by 2.2% in the first quarter. Cordasco Financial Network now owns 235 shares of the information services provider’s stock worth $199,000 after buying an additional 5 shares in the last quarter. 33.87% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Inc. (GOOGL) traded up 0.3698% during midday trading on Wednesday, reaching $939.2101. The company had a trading volume of 291,284 shares. The stock’s 50 day moving average is $952.77 and its 200 day moving average is $916.26. Alphabet Inc. has a 12-month low of $743.59 and a 12-month high of $1,008.61. The firm has a market capitalization of $650.76 billion, a price-to-earnings ratio of 34.0380 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by $3.24. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter in the prior year, the business posted $8.42 earnings per share. Equities research analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current year.

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Several equities research analysts have recently issued reports on the stock. Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price objective on the stock in a research note on Monday, June 5th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. raised their price objective on shares of Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG restated a “buy” rating and issued a $1,080.00 price objective (up previously from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. Finally, Barclays PLC restated an “overweight” rating and issued a $1,060.00 price objective (down previously from $1,065.00) on shares of Alphabet in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,053.45.

Alphabet Company Profile

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.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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