Alphabet Inc. (GOOGL) Position Trimmed by Jacobs & Co. CA
Jacobs & Co. CA trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,709 shares of the information services provider’s stock after selling 102 shares during the period. Jacobs & Co. CA’s holdings in Alphabet were worth $4,377,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in GOOGL. State of Alaska Department of Revenue acquired a new position in shares of Alphabet in the second quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Alphabet in the first quarter valued at $108,000. Delta Asset Management LLC TN increased its holdings in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 2 shares during the last quarter. Farmers National Bank increased its holdings in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 4 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its holdings in shares of Alphabet by 58.3% in the first quarter. Riggs Asset Managment Co. Inc. now owns 152 shares of the information services provider’s stock valued at $129,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 33.85% of the company’s stock.
Several equities analysts have commented on GOOGL shares. Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a report on Friday, June 9th. Canaccord Genuity downgraded shares of Alphabet from a “buy” rating to a “hold” rating and upped their price objective for the company from $967.93 to $1,000.00 in a report on Thursday, June 15th. Cantor Fitzgerald reiterated a “buy” rating and issued a $1,070.00 price objective on shares of Alphabet in a report on Tuesday, June 27th. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 price objective on the stock in a report on Tuesday, June 27th. Finally, MKM Partners reiterated a “buy” rating and issued a $1,170.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $1,057.04.
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Shares of Alphabet Inc. (NASDAQ GOOGL) traded up 0.86% during mid-day trading on Friday, hitting $993.64. 1,553,033 shares of the stock traded hands. The firm’s 50-day moving average is $947.52 and its 200-day moving average is $937.02. The stock has a market cap of $688.47 billion, a price-to-earnings ratio of 36.01 and a beta of 0.96. Alphabet Inc. has a 52 week low of $743.59 and a 52 week high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the firm posted $8.42 earnings per share. On average, analysts forecast that Alphabet Inc. will post $30.59 earnings per share 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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