Alphabet Inc. (NASDAQ:GOOGL) Holdings Trimmed by RNC Capital Management LLC

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RNC Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,781 shares of the information services provider’s stock after selling 100 shares during the quarter. RNC Capital Management LLC’s holdings in Alphabet were worth $4,874,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Sageworth Trust Co boosted its position in shares of Alphabet by 900.0% in the 3rd quarter. Sageworth Trust Co now owns 20 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 18 shares during the period. Newfound Research LLC purchased a new position in shares of Alphabet in the third quarter worth approximately $32,000. Magnolia Capital Advisors LLC raised its holdings in shares of Alphabet by 41.0% during the third quarter. Magnolia Capital Advisors LLC now owns 437 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 127 shares during the period. Baron Financial Group LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $47,000. Finally, Carolina Wealth Advisors LLC boosted its stake in Alphabet by 71.4% in the 3rd quarter. Carolina Wealth Advisors LLC now owns 36 shares of the information services provider’s stock worth $53,000 after purchasing an additional 15 shares during the period. 30.53% of the stock is owned by institutional investors.

A number of research firms have recently issued reports on GOOGL. Jefferies Financial Group increased their target price on Alphabet from $1,800.00 to $1,850.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. KeyCorp increased their price objective on Alphabet from $1,955.00 to $1,970.00 and gave the stock an “overweight” rating in a research note on Friday, October 30th. Cleveland Research raised Alphabet from a “neutral” rating to a “buy” rating in a research note on Friday, October 23rd. The Goldman Sachs Group initiated coverage on shares of Alphabet in a research report on Wednesday, December 23rd. They issued a “buy” rating and a $2,250.00 price target for the company. Finally, MKM Partners raised their price target on shares of Alphabet from $1,750.00 to $1,950.00 in a report on Friday, October 30th. Three analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $1,818.29.

NASDAQ GOOGL opened at $1,747.25 on Thursday. Alphabet Inc. has a 1-year low of $1,008.87 and a 1-year high of $1,843.83. The company has a 50 day moving average of $1,765.00 and a 200-day moving average of $1,609.47. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.18 trillion, a price-to-earnings ratio of 33.76, a PEG ratio of 2.03 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, November 3rd. The information services provider reported $16.40 EPS for the quarter, topping the Zacks’ consensus estimate of $11.35 by $5.05. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The business had revenue of $38.01 billion for the quarter, compared to analyst estimates of $35.36 billion. On average, analysts forecast that Alphabet Inc. will post 51.54 earnings per share for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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