Nexus Investment Management Inc. lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,524 shares of the information services provider’s stock after selling 765 shares during the quarter. Alphabet comprises 1.6% of Nexus Investment Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Nexus Investment Management Inc.’s holdings in Alphabet were worth $9,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pure Financial Advisors Inc. increased its stake in shares of Alphabet by 0.4% in the 2nd quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after acquiring an additional 1 shares in the last quarter. Delta Asset Management LLC TN lifted its position in shares of 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 period. RB Capital Management LLC boosted its stake in Alphabet by 0.4% during the second quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock worth $654,000 after acquiring an additional 3 shares in the last quarter. Farmers National Bank boosted its stake in Alphabet by 2.7% during the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after acquiring an additional 4 shares in the last quarter. Finally, Busey Trust CO boosted its stake in Alphabet by 0.3% during the first quarter. Busey Trust CO now owns 1,872 shares of the information services provider’s stock worth $1,587,000 after acquiring an additional 5 shares in the last quarter. 33.85% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Alphabet Inc. (NASDAQ:GOOGL) traded down 0.112% during trading on Tuesday, hitting $966.385. The stock had a trading volume of 537,768 shares. The stock has a 50 day moving average of $942.69 and a 200 day moving average of $934.82. Alphabet Inc. has a 12 month low of $743.59 and a 12 month high of $1,008.61. The company has a market cap of $669.59 billion, a PE ratio of 35.023 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). The company had revenue of $20.92 billion during the quarter, compared to the consensus estimate 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 firm posted $8.42 earnings per share. Equities analysts forecast that Alphabet Inc. will post $30.59 EPS for the current fiscal year.

GOOGL has been the topic of a number of research reports. J P Morgan Chase & Co upped their price target on Alphabet from $1,075.00 to $1,115.00 and gave the stock an “overweight” rating in a research note on Saturday, July 22nd. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,020.52 price objective for the company in a research note on Tuesday, July 25th. UBS AG restated an “overweight” rating on shares of Alphabet in a report on Thursday, August 24th. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and boosted their price objective for the company from $967.93 to $1,000.00 in a report on Thursday, June 15th. Finally, Bank of America Corporation restated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $1,056.14.

Alphabet 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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