Carnegie Capital Asset Management LLC decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOGL) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,034 shares of the information services provider’s stock after selling 479 shares during the quarter. Alphabet comprises approximately 1.4% of Carnegie Capital Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Carnegie Capital Asset Management LLC’s holdings in Alphabet were worth $17,106,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Parkside Investments LLC purchased a new position in Alphabet in the third quarter worth $124,000. ELM Advisors LLC purchased a new position in Alphabet in the third quarter worth $128,000. Marino Stram & Associates LLC grew its position in Alphabet by 47.7% in the second quarter. Marino Stram & Associates LLC now owns 161 shares of the information services provider’s stock worth $182,000 after acquiring an additional 52 shares in the last quarter. Clearwater Capital Advisors LLC purchased a new position in Alphabet in the third quarter worth $200,000. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new position in Alphabet in the third quarter worth $202,000. 42.53% of the stock is currently owned by institutional investors and hedge funds.

Alphabet stock opened at $1,190.30 on Friday. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. The stock has a market cap of $827.48 billion, a PE ratio of 25.05, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc has a 1-year low of $977.66 and a 1-year high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.08 by $1.69. The company had revenue of $31.84 billion during the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. During the same period in the prior year, the business posted $9.70 earnings per share. Sell-side analysts predict that Alphabet Inc will post 47.38 earnings per share for the current year.

Several research analysts recently issued reports on GOOGL shares. Jefferies Financial Group set a $1,200.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Thursday, December 20th. Nomura reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,234.00 target price for the company in a research report on Monday, January 28th. Wells Fargo & Co set a $1,300.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Tuesday, February 5th. Finally, BMO Capital Markets cut their target price on shares of Alphabet to $1,100.00 and set a “market perform” rating for the company in a research report on Tuesday, February 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus price target of $1,314.86.

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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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